ESMA UPDATES COMMODITY DERIVATIVES TRANSITIONAL TRANSPARENCY CALCULATIONS FOR MIFID II/ MIFIR

The update relates to the transitional transparency calculations for commodity derivatives (TTC) and only affects electricity derivatives.

Further information can be found in section E.10 of the FAQ document.

Application date:

• For sub-classes that used to be liquid and are now illiquid: the updated results can be applied immediately; and
• For sub-classes that used to be illiquid and are now liquid: trading venues are invited to contact their national competent authority to agree on a reasonable application date as the change in liquidity status may require adjusting their trading systems.