Schedule 3, paragraph 7BA

An exchange operating a trading venue which trades commodity derivatives must apply position management controls on that venue, which must at least enable the exchange to— monitor the open interest positions of persons; access information, including all relevant documentation, from persons about— the size and purpose of a position or exposure entered into; any beneficial or underlying owners; any concert arrangements; and any related assets or liabilities in the underlying market; require a person to terminate or reduce a position on a temporary or permanent basis as the specific case may require and to unilaterally take appropriate action to ensure the termination or reduction if the person does not comply; and where appropriate, require a person to provide liquidity back into the market at an agreed price and volume on a temporary basis with the express intent of mitigating the effects of a large or dominant position. The position management controls must take account of the nature and composition of market participants and of the use they make of the contracts submitted to trading and must— be transparent; be non-discriminatory; and specify how they apply to persons. An exchange must inform the FCA of the details of the position management controls in relation to each trading venue it operates.

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Source: legislation.gov.uk · retrieved 2026-09-04