In this act Article 5 of 22
Article 5 — Same commodity derivatives and significant volumes (Article 57(6) of Directive 2014/65/EU)
Financial servicesLevel 2RTSMiFID IINo longer in forceOfficial source
5(1)Copy link
1.A commodity derivative traded on a trading venue shall be considered the same commodity derivative as a commodity derivative traded on another trading venue where the following conditions are met:
5(1)(a)
a)both commodity derivatives have identical contractual specifications, terms and conditions, excluding post trade risk management arrangements;
Copy link5(1)(b)
b)both commodity derivatives form a single fungible pool of open interest or, in the case of commodity derivatives defined under point (c) of Article 4(1)(44) of Directive 2014/65/EU, of securities in issue by which the positions held in a commodity derivative traded on one trading venue may be closed out against the positions held in the commodity derivative traded on the other trading venue.\
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2.A commodity derivative shall be considered to be traded in a significant volume on a trading venue when the trading in the commodity derivative on that trading venue over a consecutive three month period:
5(2)(a)
a)exceeds an average daily open interest of 10 000 lots in the spot and other months' combined; or
Copy link5(2)(b)
b)in the case of commodity derivatives defined under point (c) of Article 4(1)(44) of Directive 2014/65/EU, when the number of units traded multiplied by the price exceeds an average daily amount of 1 million EUR.\
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