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---
title: "ESMA Q&A 1543 — Q&A — Position reporting [Answer Published]"
shortTitle: "ESMA Q&A 1543 — Q&A — Position reporting [Answer Published]"
answer_id: ESMA_QA_1543
topic: "Position reporting"
status: "Answer Published"
type: qa
instrument_type: qa
authority: ESMA
binding: false
binding_character: non_binding
legal_status: in_force
regulation: "MiFID II"
mifid_level3: true
mica_level2: false
legal_basis: "MiFID II"
date: 23 September 2022
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1543
lifecycle: "Answer Published"
text_version: "ESMA Q&A register, 23 September 2022"
source_url: "https://www.esma.europa.eu/publications-data/questions-answers/1543"
check_status: matched
verified: true
last_checked: 2026-10-26
checked_against: "the ESMA publication"
source:
  prepared_by: "ESMA"
  published_by: "ESMA"
  published_in: "ESMA Q&A tool"
  evidence:
    prepared_by: "ESMA Answer"
    locator: "ESMA Q&A entry ESMA_QA_1543: field 'ESMA Answer', no 'Answer provided by' line"
document_type: "qa_answer"
legal_nature: "not_legislation"
addressees: "not stated in the document"
dates:
  published_on: "2022-09-23"
  question_submitted_on: "2022-09-23"
  locators:
    published_on: "ESMA Q&A Excel export ESMA_QA_1543, column 'Esma responses', date line"
    question_submitted_on: "ESMA Q&A Excel export ESMA_QA_1543, column 'Date of submission'"
lifecycle_label: "Answer Published"
---

**Answer by ESMA, published in its Q&A tool · not legislation · published 23 Sep 2022 [Answer Published]**

*Answer Published · ESMA Q&A register, 23 September 2022 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1543)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1543 — Q&A — Position reporting \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1543 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 23 September 2022; question submitted 23 September 2022 |
| **Legal basis** | MiFID II |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**Position reporting**

### Question

In cases where an OTC contract is economically equivalent to more than one ETD contract traded on an EU trading venue and where those ETD contracts are not falling under the coordination procedure set out in Article 57(6) of MiFID II, to which NCA should the reporting of the EEOTC contracts be addressed?

***

### Answer

\[ESMA 70-872942901-36 Commodity derivatives Q&A, Q&A 4.21\]

In cases where an OTC contract is economically equivalent to more than one ETD contract traded on a trading venue in the EU and where those ETD contracts do not fall under the coordination procedure established in Article 57(6) of MiFID II, positions in the EEOTC contract should be reported to the NCA of the trading venues where the ETD contract with the largest volume of trading is traded.

For aggregation purposes, in order to calculate “net positions” according to Article 57(1) of MIFID II and Article 3 of RTS 21a, the EEOTC contract should be considered only once and be aggregated only once with the ETD contract with the largest volume of trading.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1543)