1.A commodity derivative traded on a trading venue shall be considered the same commodity derivative as a commodity derivative traded on another trading venue where the following conditions are met:
(a)both commodity derivatives have identical contractual specifications, terms and conditions, excluding post trade risk management arrangements;
(b)both commodity derivatives form a single fungible pool of open interest or, in the case of commodity derivatives defined under point (c) of Article 4(1)(44) of Directive 2014/65/EU, of securities in issue by which the positions held in a commodity derivative traded on one trading venue may be closed out against the positions held in the commodity derivative traded on the other trading venue.
2.A commodity derivative shall be considered to be traded in a significant volume on a trading venue when the trading in the commodity derivative on that trading venue over a consecutive three month period:
(a)exceeds an average daily open interest of 10 000 lots in the spot and other months' combined; or
(b)in the case of commodity derivatives defined under point (c) of Article 4(1)(44) of Directive 2014/65/EU, when the number of units traded multiplied by the price exceeds an average daily amount of 1 million EUR.
3.The trading venue where the largest volume of trading in the same commodity derivative takes place shall be the trading venue that over one year has:
(a)the largest average daily open interest; or
(b)in the case of commodity derivatives defined under point (c) of Article 4(1)(44) of Directive 2014/65/EU, the highest average daily amount.