Erscheinung:25.06.2025 | Topic OTC derivatives Gas derivatives: General administrative act on the imposition of position limits
The Federal Financial Supervisory Authority (BaFin) has set position limits on THE (Trading Hub Europe) natural gas futures contracts on the European Energy Exchange (EEX). This is due to a significantly high open interest.
The position limits will be applicable from 26 June 2025 on.
BaFin is required to set position limits for each significant commodity derivative offered on a German trading venue. A commodity derivative is considered significant if its open interest, i.e. the sum of all outstanding net positions, corresponds to at least 300,000 lots on average over a one-year period.
BaFin had conducted a public consultation during December 2024 and January 2025 on the administrative act. Furthermore, BaFin has notified ESMA of the position limits. ESMA’s opinion is available at https://www.esma.europa.eu/.
