Questions remain after EC publishes position limits rules

Market participants raise concerns about extraterritoriality and hedge exemptions, while regulators are tipped to struggle

The European Union's contentious position limits rule contained in the second Markets in Financial Instrument Directive (Mifid II), moved a step closer to becoming law at the end of last year, when the European Commission (EC) published its final set of technical details. Market participants have cited a number of issues that, if left unresolved for long, could be potentially damaging.

Energy firms in particular remain frustrated by the lack of clarity around the rules, which were set out in a