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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

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Article 5 Asset-class specific criteria for package orders consisting exclusively of commodity derivatives

The asset-class specific criteria referred to in Article 1(b)(iv) for package orders consisting exclusively of commodity derivative as referred to in Section 7 of Annex III to Delegated Regulation (EU) 2017/583 shall be the following:

  1. (a)

    the package order has no more than two components;

  2. (b)

    all components of the package order are commodity derivative futures as referred to in Section 7 of Annex III to Delegated Regulation (EU) 2017/583;

  3. (c)

    all components of the package order have the same underlying commodity defined at the most granular level as specified in Table 2 of the Annex to Commission Delegated Regulation (EU) 2017/585;

  4. (d)

    all components of the package order are denominated in the same notional currency of either EUR, USD or GBP;

  5. (e)

    the package order replaces a position in a contract that is nearest to expiry with a position in a contract expiring at the next maturity date.