Section 29(2)

In this Part— ... ... “applicable OTC commodity derivative” means an option, future or contract for difference which— where “option”, “future” and “contract for difference” mean the investments of the kind specified in articles 83 (options), 84 (futures) and 85 (contracts for differences etc.) of the Regulated Activities Order; relates, either directly or indirectly, to a commodity derivative traded on a trading venue established in the United Kingdom, and is not a financial instrument; “market operator” has the same meaning as in the markets in financial instruments regulation; “position” means a net position in a commodity derivative traded on a trading venue in the United Kingdom and for the purposes of regulations 27 and 28 any applicable OTC commodity derivative; “position limit” means a limit on the maximum size of a position which a person may hold at any time; and “relevant person” has the meaning given by regulation 15A(10) “significant volumes” has the meaning given by Article 5 of Regulation (EU) 2017/591. “trading venue” has the meaning given in regulation 2 but also includes a facility mentioned in— paragraph (b) of the definition of “multilateral trading facility” in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ; or paragraph (b) of the definition of “organised trading facility” in that article.

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