Template:Commodity regulation: Difference between revisions

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 You must have a taste for multi-dimensional chess if you want to understand what is required in the world of [[commodities]], freight, weather derivatives and [[emission allowances]]. To wit:
-*'''Actual [[emission allowances]]''', resembling as they do abstract financial instruments, are ''in'' scope.
+===In scope===
-*'''Actual [[commodities]]''', being consumable, perishable, paint ’em yellow ’n’ pass ’em off as copper, real-world things that people actually need to live, are ''out'' of scope.
+*'''Actual [[emission allowances]]''', resembling as they do abstract [[Financial instrument|financial instruments]] — and actually listed as such in Section C of Annex III of MiFID 2 (see point 11! they just snuck in there!) are ''in'' scope.
 *'''[[Emission allowances derivatives]]''', whether physically- or cash-settled, are ''in'' scope.
 *'''[[Cash-settled]] [[commodity derivatives]]''' — including ones where either party has an option to cash-settle — are in scope.
+*'''[[Weather derivatives]], freight, inflation and economic indicator derivatives''' that can be [[cash-settled]] (it would be kind of fun having [[physically-settled]] weather derivatives wouldn’t it) are ''in'' scope.
+==={{strike|Out of...|''In''}} scope===
+*[[Physically-settled]] [[commodity derivatives]] which would otherwise be out of scope, if not used “for commercial purposes” and having “the characteristics of [[derivative]] [[financial instruments]]” are ''in'' scope.
+===''Really'' out of scope===
+*'''Actual [[commodities]]''', being consumable, perishable, paint ’em yellow ’n’ pass ’em off as copper, real-world things that people actually need to live, are ''out'' of scope.
 *'''[[Physically-settled]] [[commodity derivatives]]''' are ''out'' of scope ... ''unless'' they are traded on an EU [[trading venue]], (i.e, [[OTC]] [[physically-settled]] [[commodity derivatives]]) in which case they are in scope ... unless they are “wholesale energy products traded on an OTF that must be physically settled” - which case they are ''out'' of scope.
-*[[Physically-settled]] [[commodity derivatives]] which would otherwise be out of scope, if not used “for commercial purposes” and having “the characteristics of [[derivative]] [[financial instruments]]” are ''in'' scope.
-*'''[[Weather derivatives]], freight, inflation and economic indicator derivatives''' that can be [[cash-settled]] (it would be kind of fun having [[physically-settled]] weather derivatives wouldn’t it) are ''in'' scope.