Thanks for your #ReplytoESMA

1 August 2018 update

ESMA’s final product intervention measures on CFDs have come into force today. You can find out more on the ESMA website.

27 March 2018 update

In total, 14,605 replies were submitted via this website during the consultation period – with 98.1% against ESMA’s proposals.

ESMA has listened to traders on margin close-out rules and adapted its policy accordingly. A 50% close-out rule will now apply on an account basis, rather than on a position-by-position basis. We’d like to thank all traders who submitted views – your valuable input has resulted in a positive shift for the industry rather than a backwards step.

However, ESMA has chosen to disregard the weight of feeling against the proposed leverage restrictions. As a result, minimum margins on all CFD and spread betting markets will increase across the industry. It is disappointing that ESMA has chosen to ignore the views of traders in this instance, but rest assured we will continue to make the case that these leverage changes are disproportionate.

The changes are expected to come into force from early July 2018. You can still read all the replies received to this site, as well as responses from the industry and a summary of the results.

Read all replies | Summary of results | Read industry responses | Visit the ESMA website