Position reporting under MiFID II
Produced in partnership with Puesan Lam and Tony Katz of DLA Piper LLP
Position reporting under MiFID II

The following Financial Services guidance note Produced in partnership with Puesan Lam and Tony Katz of DLA Piper LLP provides comprehensive and up to date legal information covering:

  • Position reporting under MiFID II
  • Position reporting—level 2 and level 3 measures
  • Position reporting—UK implementation
  • Position reporting requirements for trading venue operators
  • Weekly reporting requirements of trading venues
  • Daily reporting requirements of trading venues
  • Daily reporting requirements of investment firms trading OTC
  • Trading venue members/clients
  • Issues relating to positions held on behalf of clients and end-clients
  • Hedging transactions
  • more

BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance, see Practice Note: The impact of Brexit on the MiFID II regime.

The recast Markets in Financial Instruments Directive 2014/65/EU (MiFID II) and the Markets in Financial Instruments Regulation (EU) 600/2014 (MiFIR) repealed and replaced the Markets in Financial Instruments Directive 2004/39/EC (MiFID).

MiFID II and MiFIR introduced a commodity derivatives position limits and reporting regime which is aimed at preventing market abuse and supporting orderly pricing and settlement conditions by improving transparency and oversight of financial markets. The regime came into force on 3 January 2018.

This note sets out the position reporting requirements under MiFID II, which apply to trading venues, investment firms trading in commodity derivatives, emission allowances, or emission allowance derivatives, and trading venue members. For more information on position limits, see Practice Note: MiFID II—commodity derivatives—position limits. For more information on MiFID II and MiFIR, see Practice Note: MiFID I, MiFID II and MiFIR—essentials.

Position reporting—level 2 and level 3 measures

The position reporting requirements of MiFID II are further specified in Article 83 of Commission Delegated Regulation (EU) 2017/565, as well as the following implementing technical standards (ITS):

  1. Commission Implementing Regulation (EU) 2017/1093 (ITS 4) specifying