The AMF revises the position limits applicable to the salmon derivative contract listed on Euronext
In accordance with the implementing texts on the Markets in Financial Instruments Directive (MIF 2), the AMF revised the position limits applicable to positions held on the salmon derivative contract listed on Euronext Paris Matif, following an evolution of the open interest.
Following the migration of the salmon derivative contract from the Norwegian market company FishPool ASA to Euronext Paris Matif in July 2024, this futures contract was previously considered new and not liquid. Therefore, according to the MiF2 directive, position limits were set at 10,000 lots on the “spot contract” and “all other months contracts”. Taking into account the evolution of the market, with an open interest having exceeded the threshold of 20,000 lots on average per day over a period of 3 months, the AMF announces a revision of these position limits.
For each underlying, two types of limits are set: the first applies to positions held on contracts with the nearest maturity (“spot contract”). The second limit applies to aggregate positions on other maturities (“other months contracts”).
Following the process established at the European level, ESMA confirmed the compliance of these limits with the regulation.
The limit applicable to positions held on the “spot contract” has been lowered and the limit applicable to aggregate positions held on “other months contracts” has been increased (see details in the attached instruction).
This instruction will enter into application from 12 February 2026.
