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The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017
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- UK Statutory Instruments
- 2017 No. 701
- PART 3
- Regulation 29
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The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017, Section 29 is up to date with all changes known to be in force on or before 01 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Regulation 29:
- reg. 29(1) revoked by 2023 c. 29 Sch. 2 para. 50(b)(v)
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- reg. 16(1A)(1B) omitted by 2023 c. 29 Sch. 2 para. 46(4)
Interpretation of Part 3U.K.
This section has no associated Explanatory Memorandum
29.—(1) In this Part an over the counter contract is economically equivalent to a commodity derivative if it satisfies the criteria set out in [F1Article 6 of Regulation (EU) 2017/591.]
(2) In this Part—
F2...
F3...
[F4“market operator” has the same meaning as in the markets in financial instruments regulation;]
“position” means a net position in a commodity derivative traded on a trading venue in an EEA State and any economically equivalent over the counter contract that has been calculated in accordance with the methodology determined by [F5Articles 3 and 4 of Regulation (EU) 2017/591;]
“position limit” means a limit on the maximum size of a position which a person may hold at any time; and
[F6“relevant person” has the meaning given by regulation 15A(10)]
[F7“significant volumes” has the meaning given by [F8Article 5 of Regulation (EU) 2017/591].]
“trading venue” has the meaning given in regulation 2 but also includes a facility mentioned in—
(a)
paragraph (b) of the definition of “multilateral trading facility” in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 M1; or
(b)
paragraph (b) of the definition of “organised trading facility” in that article.
Textual Amendments
F1Words in reg. 29(1) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 8(17)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in reg. 29(2) omitted (31.12.2020) by virtue of The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 8(17)(b)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in reg. 29(2) omitted (31.12.2020) by virtue of The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 8(17)(b)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F4Words in reg. 29(2) inserted (29.10.2024 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 49(a) (with s. 2(3)); S.I. 2024/1071, reg. 3(c)(iii)
F5Words in reg. 29(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 8(17)(b)(iii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F6Words in reg. 29(2) inserted (29.10.2024 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 49(b) (with s. 2(3)); S.I. 2024/1071, reg. 3(c)(iii)
F7Words in reg. 29(2) inserted (2.1.2018) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (No.2) Regulations 2017 (S.I. 2017/1255), regs. 2(a), 25
F8Words in reg. 29(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 8(17)(b)(iv) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Marginal Citations
M1S.I. 2001/544; article 3(1) was amended by S.I. 2006/3384, there are other amendments but none is relevant.
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