On 18 November 2010, the Committee of European Securities Regulators (CESR) published a consultation on guidelines on risk measurement and the calculation of global exposure for certain types of structured undertakings for collective investment in transferable securities (UCITS). In July CESR published its guidelines on risk measurement and the calculation of the global exposure and counterparty risk for UCITS. CESR was then asked to develop similar methodology for structured UCITS . In the consultation, CESR does not set out a specific regime for the calculation of the global exposure of structured UCITS, but provides an alternative approach for the calculation of global exposure for structured UCITS. When finalised, the guidelines will apply to structured UCITS which meet specific criteria. The proposed guidelines set out how global exposure should be calculated and include three case studies. The consultation closes on 31 December 2010. When the guidelines are adopted, they will be incorporated into the July 2010 guidelines.