On September 30, the European Securities and Markets Authority (ESMA) published a final report containing guidelines (Guidelines) on inside information and commodity derivatives under the EU Market Abuse Regulation (MAR). The Guidelines are issued under Article 7(5) of MAR and set out a non-exhaustive list of indicative information that is reasonably expected or required to be disclosed on commodity derivatives markets and/or spot markets. The Guidelines group the non-exhaustive indicative list of information into three categories: (1) information relating directly to commodity derivatives; (2) information relating indirectly to commodity derivatives without a related spot market; and (3) information directly relating to a spot commodity contract.
The Guidelines will apply two months after their translation into each official language of the European Union.
The Guidelines can be found here.
ESMA’s earlier consultation paper on the proposed Guidelines published in March can be found here.