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In this act Article 11 of 22
No longer in force since 15 August 2022Below: the last text in force, valid until 15 August 2022. It is not current law.

Article 11 — Methodology for determining the baseline figure for other months' limits (Article 57(4) of Directive 2014/65/EU)

Financial servicesLevel 2RTSMiFID IINo longer in forceOfficial source

11(1)

1.Competent authorities shall determine a baseline figure for the other months' position limit in a commodity derivative by calculating 25 % of the open interest in that commodity derivative.

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11(2)

2.The baseline figure shall be specified in lots which shall be the unit of trading used by the trading venue on which the commodity derivative trades representing a standardised quantity of the underlying commodity.

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