Page 21 - 期货和衍生品行业监管动态（2023年1月）

期货和衍生品行业监管动态

ESMA 和 ACER 在编制各自报告时始终密切合作，以确保能够评估金融和

能源市场的所有相关、潜在的发展情况，并有效避免双方报告内容产生重叠。

ACER 于同日公布了其报告。

下一步

若利益相关方对初步数据报告有任何建议或意见，请随时与 ESMA 联系。

在本次公布后，ESMA 将在 2023 年 3 月 1 日前向欧盟委员会提交一份关于

采用市场修正机制的效果评估。该效果评估将包含基于更为细化指标的详尽分析，

延长采用市场修正机制后的时间范围，并扩展与采用市场修正机制有关的定性评

估。

ESMA Analyses Preliminary Effects of Market Correction Mechanism on EU

Natural Gas Derivative Market (2023/1/23)

The European Securities and Markets Authority, the EU’s financial markets

regulator and supervisor, has today published its preliminary data report following the

introduction of the market correction mechanism (MCM) in the EU Regulation.

The report describes the structure and main participants in the EU natural gas

derivative market. It focuses on market indicators aimed at assessing the potential

effects of the adoption of the MCM. Based on available data at this point in time,

ESMA has not identified significant impacts resulting from the adoption of the MCM

Regulation but notes that this should not be interpreted as the MCM not having any

effects on financial markets in the future.

The report identifies the potential consequences of the MCM on market

participants’ trading behaviour and the effect it may have on the ability of market

participants to effectively manage their risks. In that regard, it includes a more

qualitative analysis of the possible risks to CCP risk management and the potential
impact on the clearing of derivatives.

Background

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