Esma adviser says position limits to be published in November

Task force member warns of market “disorder” in tight window before Mifid II goes live

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The European Securities and Markets Authority (Esma) will announce position limits on commodity derivatives in November, an adviser to the regulator has told, flagging possible fire sales of contracts to comply with rules that come into force on January 3, 2018. 

Under the impending second Markets in Financial Instruments Directive (Mifid II), firms’ net positions will be capped unless they qualify for a hedging exemption as a non-financial entity. The late publication date for the

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