ESMA has published two opinions for submission to the Commission on the draft RTS on (i) non-equity transparency requirements and (ii) the methodology for the calculation and the application of position limits for commodity derivatives traded on trading venues and economically equivalent over-the-counter contracts. This is in response to the Commission’s notification to ESMA that it would endorse the RTS subject to specified modifications. ESMA suggests a different phase-in method for the transparency requirements than the one requested by the Commission. Otherwise, it supports the suggested modifications to both RTS are supported and has made the changes. ESMA plans to submit a third opinion, relating to requested modifications to the RTS on the ancillary business exemption, later in May. (Source: ESMA opines on draft MiFID 2 RTS on transparency and position limits)