Mifid II position limits regime faces non-EU reporting woes

Position reports will contain “meaningless information”, experts warn

European regulators will struggle to identify breaches of commodity derivatives position limits by US futures commission merchants, as they are not obliged to disaggregate their positions, say experts.

The second Markets in Financial Instruments Directive – due to come into effect on January 3, 2018 – requires investment firms active in the European Union to submit daily position reports of commodity derivatives to the national regulator and trading venue where they were traded. Those firms are