SECTION II Factors relevant for the calculation of position limits

Article 14 Assessment of factors(Article 57(3) of Directive 2014/65/EU)

The competent authority shall set the spot month and other months' position limits for a commodity derivative by taking the baseline figure determined in accordance with Articles 9, 11 and 13 and adjusting it according to the potential impact of the factors referred to in Articles 16 to 20 on the integrity of the market for that derivative and for its underlying commodity to a limit:

  1. (a)

    between 5 % and 35 %; or

  2. (b)

    between 2,5 % and 35 %, for any derivative contract with an underlying that qualifies as food intended for human consumption with a total combined open interest in spot and other months' contracts exceeding 50000 lots over a consecutive three month period.