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Dealing on own account: Difference between revisions
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3(4). The values resulting from the aggregation referred to in this Article shall be denominated in euro. | 3(4). The values resulting from the aggregation referred to in this Article shall be denominated in euro. | ||
[...] | |||
Article 5(2): For the purposes of paragraph 5(1)(a), the net position in a commodity derivative, an emission allowance or a derivative thereof in the Union shall be determined by netting long and short positions: | |||
:(a) in each type of commodity derivative contract with a particular commodity as underlying in order to calculate the net position per type of contract with that commodity as underlying; | |||
:(b) in an emission allowance contract in order to calculate the net position in that emission allowances contract; or | |||
:(c) in each type of emission allowance derivative contract in order to calculate the net position per type of emission allowance derivative contract. | |||
For the purposes of paragraph 5(1)(a), net positions in different types of contracts with the same commodity as underlying or different types of derivative contracts with the same emission allowance as underlying can be netted against each other. <br> | |||
[...] | [...] | ||