ESMA publishes updated instructions for weekly commodity derivative position reporting

The European Securities and Markets Authority (ESMA) has published updated reporting instructions and XML schema (version 1.2.0) for weekly commodity derivatives position reporting under MiFID II. The changes reflect amendments to ITS 4, as outlined in ESMA's final report on proposed amendments to MiFID II technical standards in relation to commodity derivatives. The amendments are in response to changes introduced by the MiFID II review, submitted to the European Commission in December 2024 and currently pending adoption. Beyond the changes directly originating from MiFID II, such as the requirement to publish two weekly reports and the exclusion of (spot) emission allowances from position reporting, the update also introduces harmonisation of reporting units for energy derivatives. The new schema and instructions will apply from 1 April 2026, after which reporting entities must use version 1.2.0 exclusively.

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