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Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","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_1544, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1544, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1544","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mifid-ii/level-3/q-and-a/esma/esma-qa-1544-position-reporting.md","body_sha256":"74bbb4aa18ec0c480f6b18511da216f9c6dfe75983dfce68c053f0bb4891a683"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1544 — Q&A — Position reporting [Answer Published]\"\nshortTitle: \"ESMA Q&A 1544 — Q&A — Position reporting [Answer Published]\"\nanswer_id: ESMA_QA_1544\ntopic: \"Position reporting\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFID II\"\nmifid_level3: true\nmica_level2: false\nlegal_basis: \"MiFID II\"\ndate: 23 September 2022\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1544\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 23 September 2022\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1544\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1544: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2022-09-23\"\n  question_submitted_on: \"2022-09-23\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1544, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1544, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 23 Sep 2022 [Answer Published]**\n\n*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/1544)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1544 — Q&A — Position reporting \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1544 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 23 September 2022; question submitted 23 September 2022 |\n| **Legal basis** | MiFID II |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Position reporting**\n\n### Question\n\nWhich types of firm fall within each of the ITS 4 categories for the purposes of the weekly Commitment of Trader (CoT) reports?\n\n***\n\n### Answer\n\n\\[ESMA 70-872942901-36 Commodity derivatives Q&A, Q&A 4.22\\]\n\nITS 4 implementing MiFID II provides the format of the weekly reports (CoT reports) to be published by trading venues and provided to ESMA. In providing information to the trading venues to enable them to produce weekly reports, members and participants of those venues must use their knowledge and judgment to categorise their activities and the activities of their clients accurately.\n\niIn order to achieve accuracy and consistency in the reporting of positions across different categories, the following guidance may be of assistance:\n\nEU entities:\n\nInvestment firms or credit institutions – includes banks and other firms regulated under MiFID II.\n\nInvestment funds – entities holding investments directly in the commodity derivatives market as a form of collective investment scheme, including hedge and exchange-traded funds.\n\nOther financial institutions – those financial firms not falling within any of the other categories including pension funds.\n\nCommercial undertakings – non-financial entities using commodity derivatives, for example firms using those markets to hedge the risk they directly incur from dealing in physical commodities such as producers, end users, processors, manufacturers, shippers and merchants.\n\nOperators with compliance obligations under the EU ETS Directive – such as commercial airlines, entities in power and heat generation, energy-intensive industry sectors including oil refineries, steel works, production of iron, aluminium, metals, cement, lime, glass, ceramics, pulp, paper, cardboard, acids and bulk organic chemicals.\n\nThird-country entities:\n\nFor entities based in third countries, ESMA Opinion on the classification of third-country financial entities in weekly position reports under MiFID II\\[1\\] provides further guidance.\n\nIt should be noted that it is possible for a firm to be categorised as an operator with compliance obligations under the Emissions Allowance Trading Directive for a Weekly CoT report for an emissions allowance contract or derivatives thereof while, on the other hand, it must be categorised as a commercial undertaking for a Weekly CoT referring to another asset class of commodity derivatives contract (i.e. metals, oil, coal, gas, power, etc.).\n\n\\[1\\] https://www.esma.europa.eu/sites/default/files/library/esma70-156-6046\\_opinion\\_on\\_classification\\_of\\_counterparties\\_in\\_weekly\\_position\\_reports.pdf\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1544)\n"}