Tuesday July 11 2017
News Source: Global Disclosures
Focus: Position Limits (including MIFID II)
Type: General
Country: Canada
Bourse de Montréal has published the updated position limits for all futures contracts in accordance with articles 15508, 15608, 15627, 15647, 15667, 15708, 15758, 15908, 15977, 15998.7 and 15999.10 of the Rules of the Bourse and for options on futures contracts in accordance with subparagraph B) 5 of article 6651 of the Rules of the Bourse.
These new limits are effective as of the open of the next business day.
Further to the above, Bourse de Montréal has issued a reminder in reference to the first contract month position limit, that, as per articles 15608, 15627, 15647 and 15667 of the Rules and Policies of the Bourse, the maximum net Long Position or net Short Position in each Government of Canada bond futures contract which a person may own or control in accordance with article 14157 is the futures contract equivalent of 5% of the total outstanding amount of Government of Canada bonds eligible for delivery for the designated Government of Canada bond futures contracts at the start of trading on the first business day prior to the first delivery notice day of the first contract month.
The position limit for the first contract month becomes effective on the first business day prior to the first delivery notice day of the first contract month. The position limit for the first contract month of Government of Canada Bond futures contracts will be published on the Division’s website on the first business day prior to the First Delivery Notice Day.
Below is a table of the gross position levels over which reporting is required by the Bourse, in such form and in such manner as prescribed by the Bourse, in accordance with articles 14102, 15509, 15609, 15628, 15648, 15668, 15709, 15759, 15909, 15978, 15998.8 and 15999.11 of the Rules for futures contracts and in accordance with article 6654 of the Rules for options on futures contracts:
| FUTURES CONTRACTS AND OPTIONS ON FUTURES CONTRACTS | REPORTING THRESHOLDS (ctr.) | |
| BAX | Three-Month Canadian Bankers’ Acceptance Futures | 300 |
| OBX | Options on Three-Month Canadian Bankers’ Acceptance Futures | 300 |
| ONX | 30-Day Overnight Repo Rate Futures | 300 |
| OIS | Overnight Index Swap Futures | 300 |
| CGZ | Two-Year Government of Canada Bond Futures | 250 |
| CGF | Five-Year Government of Canada Bond Futures | 250 |
| CGB | Ten-Year Government of Canada Bond Futures | 250 |
| OGB | Options on Ten-Year Government of Canada Bond Futures | 250 |
| LGB | 30-Year Government of Canada Bond Futures | 250 |
| SXF | S&P/TSX 60 Index Standard Futures | 1000 |
| SXM | S&P/TSX 60 Index Mini Futures | 1000 |
| SCF | S&P/TSX Composite Index Mini Futures | 1000 |
| SXA | S&P/TSX Global Gold Index Futures | 500 |
| SXB | S&P/TSX Capped Financials Index Futures | 500 |
| SXH | S&P/TSX Capped Information Technology Index Futures | 500 |
| SXY | S&P/TSX Capped Energy Index Futures | 500 |
| SXK | S&P/TSX Composite Index Banks (Industry Groups) | 500 |
| SXU | S&P/TSX Capped Utilities Index Futures | 500 |
| EMF | FTSE Emerging Market Index Futures | 1000 |
Click here for Updated list of Futures Contracts and Options on Futures Contracts.
Click on the link above for further information.