ESMA provides interim market size calculations helping market participants to assess whether their activities in commodity derivatives can be considered as ancillary to their main business. Under the revised Markets in Financial Instruments Directive (MiFID II) market participants are required to measure their own activity against total market sizes in commodity derivatives. Those market participants exceeding a certain market share are required to apply for an authorisation as an investment firm.
- Metaandmete keel
- Inglise keel