Commodities position limit debate to kick off again as NGOs eye ESMA consultation

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By Ross Lancaster
09 Jan 2020

As market participants sent in their final responses to the European Securities and Markets Authority's consultation on MiFID II’s commodity derivatives position limits, NGOs look set to fight against financial industry suggestions. An Oxfam official said he was “worried and disappointed” by the exercise.

NGOs including Oxfam won a significant victory in the drafting of MiFID II when they successfully argued for limits on the maximum size of positions a person can hold in commodity derivatives.

The NGOs argued that speculation on commodity markets, in particular in food derivatives, could have a ...

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