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Article 18 The overall open interest(Article 57(3)(c) of Directive 2014/65/EU)

  1. (1)

    Where there is a large volume of overall open interest, the competent authority shall adjust the position limit downwards.

  2. (2)

    Where the open interest is significantly higher than the deliverable supply, the competent authority shall adjust the position limit downwards.

  3. (3)

    Where the open interest is significantly lower than the deliverable supply, the competent authority shall adjust the position limit upwards.