Esma changes to position limits seen as ‘sensible’

Regulator allows higher limits for less liquid commodity derivative contracts

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Energy firms still have grave doubts about the potential impact of the European Union's new regime for speculative position limits in commodity derivatives, but the last round of technical adjustments by the Paris-based European Securities and Markets Authority (Esma) has been mostly welcomed by industry groups.

The position limits regime – part of the new Markets in Financial Instruments Directive (Mifid II) – would impose caps on the net positions firms can take in exchange-traded commodity de

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