Article 11 Methodology for determining the baseline figure for other months' limits(Article 57(4) of Directive 2014/65/EU)
- (1)
The competent authority shall determine a baseline figure for the other months' position limit in a commodity derivative by calculating 25 % of the open interest in that commodity derivative.
- (2)
The baseline figure shall be specified in lots which shall be the unit of trading used by the trading venue on which the commodity derivative trades representing a standardised quantity of the underlying commodity.