ESMA finalises commodity derivatives guidelines: ESMA has published its final guidelines setting out a common, uniform and consistent application of the definitions of commodity derivatives under C6 and C7 of Annex I of the current Markets in Financial Instruments Directive (MiFID). The guidelines, which ESMA has decided to provide only in English, will apply from 7 August until MiFID 2 and its associated technical standards and guidelines take effect. The guidelines clarify the definitions by specifying, in particular, what is meant by “physically settled” and confirming that forwards traded on a regulated market or Multilateral Trading Facility (MTF) fall within the scope of category C6. ESMA notes it has provided the Commission with technical advice on related points, but sees no conflict between these guidelines and its advice. (Source: ESMA Finalises Commodity Derivatives Guidelines)