January 3, 2018 / 5:01 PM / a year ago

Euronext aims for end-January launch for commodity trading data

PARIS, Jan 3 (Reuters) - Euronext expects to launch reports on investors’ trading positions in commodity derivatives towards the end of the month to comply with new European Union regulations, the exchange operator said.

Euronext, which trades derivatives mostly based on agricultural commodities, has been preparing to publish weekly commitments of traders (COT) reports to meet the requirements of the new EU rules, known as MiFID II, that came into effect on Wednesday.

The new rules aim to increase transparency in Europe’s financial markets so regulators can spot risks early and also enable investors to shop around more.

COT data, already a feature of U.S. commodity markets, gives a clearer picture of trading activity by providing information on who has been buying and selling which products.

Euronext had said previously it planned to publish the data from early January, but a spokeswoman said the exchange wanted to spend some time checking the new information being submitted by market participants.

“We are reviewing client daily data provision and inherent report consistency closely in the first weeks after MiFID entering into force. On that basis we ought to publish the first Euronext weekly COT report closer to the end of January 2018,” the spokeswoman said in an emailed response.

She reiterated that Euronext planned to publish the weekly reports every Wednesday afternoon, showing positions held at the close of trading on the previous Friday.

The reports will show changes in the positions held by categories of participants such as investment funds and commercial firms.

Euronext’s main commodity market is its milling wheat futures, which are widely followed as a price benchmark for the European grain sector.

Reporting by Gus Trompiz. Editing by Jane Merriman

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