{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["2017/591 — RTS — Application of position limits to commodity derivatives [no longer in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifid-ii/level-2/rts/2017-591-the-application-of-position-limits-to-commodity-derivatives/articles/15","url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-591-the-application-of-position-limits-to-commodity-derivatives/articles/15","title":"Article 15 — New and illiquid contracts (Article 57(3)(g) of Directive 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Delegated Regulation (EU) 2017/591 · superseded — not in force · OJ L 87, 31.3.2017 · dated 1 Dec 2016 [no longer in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2016-12-01","entry_into_force":"2017-04-20","locators":{"document_date":"CELLAR 32017R0591 work_date_document","entry_into_force":"CELLAR 32017R0591 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifid-ii/level-2/rts/2017-591-the-application-of-position-limits-to-commodity-derivatives","path":"/mifid-ii/level-2/rts/2017-591-the-application-of-position-limits-to-commodity-derivatives","name":"Commission Delegated Regulation (EU) 2017/591","number":"2017/591","celex":"32017R0591","title_official":"COMMISSION DELEGATED REGULATION (EU) 2017/591 of 1 December 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the application of position limits to commodity derivatives (Text with EEA relevance)","document_date":"2016-12-01"},"position":{"kind":"article","key":"15","index":15,"articles":22,"annexes":0},"prev":{"path":"/mifid-ii/level-2/rts/2017-591-the-application-of-position-limits-to-commodity-derivatives/articles/14","key":"14","title":"Article 14 — Assessment of factors (Article 57(3) of Directive 2014/65/EU)"},"next":{"path":"/mifid-ii/level-2/rts/2017-591-the-application-of-position-limits-to-commodity-derivatives/articles/16","key":"16","title":"Article 16 — The maturity of the commodity derivatives contracts (Article 57(3)(a) of Directive 2014/65/EU)"},"act_anchor":"#art-15"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2017/591/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifid-ii/level-2/rts/2017-591-the-application-of-position-limits-to-commodity-derivatives.md","unit_text_sha256":"b39e20118b586f262b7f83d14220a23bef051710c024f4f600e0c6692d5405a4","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/mifid-ii/level-2/rts/2017-591-the-application-of-position-limits-to-commodity-derivatives/art-15","kind":"article","key":"15","heading":"Article 15 — New and illiquid contracts (Article 57(3)(g) of Directive 2014/65/EU)","text":"## <a id=\"art-15\"></a>Article 15 — New and illiquid contracts (Article 57(3)(g) of Directive 2014/65/EU)\n\n1. <a id=\"art-15-p-1\"></a>By way of derogation to Article 14,\\\n   <a id=\"art-15-p-1-a\"></a>a) for commodity derivatives traded on a trading venue with a total combined open interest in spot and other months' contracts not exceeding 10 000 lots over a consecutive three month period, competent authorities shall set the limit of positions held in those commodity derivatives at 2 500 lots;\\\n   <a id=\"art-15-p-1-b\"></a>b) for commodity derivatives traded on a trading venue with a total combined open interest in spot and other months' contracts in excess of 10 000 but not exceeding 20 000 lots over a consecutive three month period, competent authorities shall set the spot and other months' position limit between 5 % and 40 %;\\\n   <a id=\"art-15-p-1-c\"></a>c) for commodity derivatives as defined in point (c) of Article 4(1)(44) of Directive 2014/65/EU with a total number of securities in issue not exceeding 10 million over a consecutive three month period, the competent authority shall set the limit of positions held in those commodity derivatives at 2,5 million securities;\\\n   <a id=\"art-15-p-1-d\"></a>d) for commodity derivatives as defined in point (c) of Article 4(1)(44) of Directive 2014/65/EU with a total number of securities in issue in excess of 10 million but not exceeding 20 million over a consecutive three month period, the competent authority shall set the spot and other months' position limit between 5 % and 40 %.\\\n2. <a id=\"art-15-p-2\"></a>The trading venue shall notify the competent authority when the total open interest of any such commodity derivative reaches any of the amounts of lots or number of securities in issue mentioned in the previous paragraph over a consecutive three month period. Competent authorities shall review the position limit upon receiving such notifications.\n\n","marks":[],"text_hash":"b39e20118b586f262b7f83d14220a23bef051710c024f4f600e0c6692d5405a4","revision":1}}