In this Part an over the counter contract is economically equivalent to a commodity derivative if it satisfies the criteria set out in F6Article 6 of Regulation (EU) 2017/591.

In this Part—

• F2...

• F3...

• “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 F4Articles 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

• F1“significant volumes” has the meaning given by F5Article 5 of Regulation (EU) 2017/591.

• “trading venue” has the meaning given in regulation 2 but also includes a facility mentioned in—

  1. 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

  2. b

     paragraph (b) of the definition of “organised trading facility” in that article.