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MiFID II - Position reports

Parties that trade in commodity derivatives, emission rights or derivatives thereof are obliged to report their positions. Therefore, position reports also apply to parties that are exempt from the licence obligation because their trading in commodity derivatives, emission rights and derivatives thereof can be qualified as an ancillary activity. Trading venues where trading takes place in these financial instruments also have the obligation to report positions.

Reporting obligations

A trading venue in the Netherlands on which commodity derivatives and emission rights and derivatives thereof are traded is obliged to publish a report weekly of the aggregate positions of the persons who trade in these financial instruments on the trading venue, as soon as both the number of persons and their outstanding positions exceed the minimum thresholds. The trading venue must report this to the AFM and ESMA. In addition, the trading venue will have to provide a daily complete breakdown of the trading positions in commodity derivatives, emission rights or derivatives thereof of the persons who are trading in these financial instruments on the trading venue.

An investment firm that trades in commodity derivatives, emission rights or derivatives thereof outside of a trading venue is obliged to provide a breakdown of its positions and the positions of its clients, up to the end client, to the competent supervisor at least once a day.

A participant in, or member of a regulated market, MTF or OTF is obliged to report daily to the trading venue on the details of the positions that it holds in the commodity derivatives traded on that trading venue as well as positions of clients, up to the end client. This reporting obligation does not apply to emission rights and instruments derived from emission rights, but only for commodity derivatives.

Procedure reporting obligations

Aforementioned parties email their questions with regard to the procedure to: CPRS@afm.nl

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