Revocation of retained EU law Transitional amendments Amendments to the Markets in Financial Instruments Regulation (MiFIR) and the European Market Infrastructure Regulation (EMIR) Commodity derivatives
Article 2(1)(30) MiFIR provides the legal definition of "commodity derivative", which definition the FCA adopts in its Handbook, and which is also used in the RAO.
	In addition to providing the definition of "commodity derivative", MiFIR also contains important FCA powers in respect of the setting of position limits which are reflected in Commission Delegated Regulation (EU) 2017/591. The regulation of commodity derivatives as such is not provided for in detail in the UK version of MiFIR, which reflects the EU’s MiFID II framework approach to commodity derivatives. Beyond MiFIR, and the relevant RTS which have been brought into UK law, financial regulation of commodity derivatives exists in UK law and regulation under, among others:
Part 3 of the MiFI Regulations, which concerns key parts of the UK’s onshored regime for commodity derivatives, namely, position limits 29 and position management controls 30 ; and
rules and directions relating to position limits, position management and position reporting at chapter 10 of the FCA’s Market Conduct sourcebook (FCA MAR ), which rules and directions implement Articles 57 and 58 of MiFID II.