FCA ‘working in background’ on Mifid commodity limits rules

Regulator builds out reporting platform to monitor position limit breaches

The UK's Financial Conduct Authority (FCA) is carrying out a "dummy run" to test how it will collect data from trade repositories in order to establish commodity position limits once final rules are published, an official with the regulator said at an industry event.

"We have worked significantly in carrying out a dummy run, a straw man exercise, in how we will establish position limits and how we will perform the calculation, what data we will use and what sorts of considerations should be had