Title II: Trading platforms

I.-The AMF establishes and applies limits on the size of a net position that a person may hold at any time: 1° In agricultural commodity derivatives within the meaning of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014, traded on trading platforms; 2° In commodity derivatives within the meaning of Regulation (EU) No 600/2014 of the European Parliament and of the Council…

The Autorité des marchés financiers shall not impose more restrictive limits than those provided for in Article L. 420-11, unless, exceptionally, such limits are objectively justified and proportionate having regard to the liquidity of the specific market and in the interests of the orderly functioning of the market. The AMF publishes details of the more restrictive position limits it imposes on its website. These limits apply for an initial period…

Where agricultural commodity derivatives which are based on the same underlying and which have the same characteristics are traded in significant volumes on trading platforms or where critical or significant commodity derivatives which are based on the same underlying and which have the same characteristics are traded on trading platforms in more than one Member State of the European Union or party to the Agreement on the European Economic Area,…

The operator of a trading venue on which commodity derivatives are traded shall apply position management controls. These controls shall include, as a minimum, the power for the trading platform to: 1° to monitor the open positions of the persons concerned ; 2° to obtain information from such persons, including any relevant documents concerning the size and purpose of a position or exposure taken by them, the beneficial owners or…

Position limits and position management controls shall be transparent and non-discriminatory, shall state how they apply to persons and shall take into account the nature and composition of market participants and their use of the contracts being traded. The trading platform manager shall report details of position management controls to the Autorité des marchés financiers. The Autorité des marchés financiers shall forward this information, together with details of the position…