Page 464 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

ESMA 和各成员国监管机构（NCAs）一直把能源衍生品市场作为监测监控

工作重点并不断加强，双方将继续进行密切合作来打击可能对市场诚信造成的威

胁，并确保对任何潜在的操纵市场线索进行追踪和调查。

下一步

ESMA 发表这封信是对 2022 年 9 月 13 日收到的欧盟委员会的正式要求回复。

ESMA 随时准备向欧盟机构提供进一步的技术性意见，以帮助应对当前情况。

ESMA Responds to the EU Commission Regarding Recent Developments in the

Energy Derivatives Markets (2022/9/22)

The European Securities and Markets Authority (ESMA), the EU’s securities
markets regulator, has submitted its response to the European Commission

(Commission) regarding the current level of margins and of excessive volatility in
energy derivatives markets.

In its letter, ESMA sets out its high-level assessment concerning the areas where

the Commission requested input:

 Measures to limit excessive volatility (circuit breakers)

 CCP margins and collateral

ESMA also makes a number of further suggestions in the following areas:

 Commodity clearing thresholds

 Improving regulatory reporting on commodity derivatives

 Regulating and supervising commodity traders

ESMA and NCAs have been focusing and strengthening their respective market

monitoring and surveillance activities on the energy derivatives markets. Close

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