34. Welcomes the Commission’s ‘merger simplification’ proposal of 5 December 2013 and the proposals set out in its latest White Paper , but calls for much clearer definitions to be drawn up of the concepts of market share, market power and definition;

34. Welcomes the Commission’s ‘merger simplification’ proposal of 5 December 2013 and the proposals set out in its latest White Paper , but calls for much clearer definitions to be drawn up of the concepts of market share, market power and definition;

Competition law principles are therefore used in this Recommendation to set product market boundaries within the electronic communications sector, while the identification or selection of defined markets for ex ante regulation depends on those markets having characteristics which may be such as to justify the imposition of ex ante regulatory obligations.

39. Calls for the planned regulation of derivatives to include rules relating to the banning of purely speculative trading in commodities and agricultural products, and the imposition of strict position limits especially with regard to their possible impact on the price of essential food commodities in developing countries and greenhouse gas emission allowances; calls for the ESMA and the competent authorities to be given the competence effectively to tackle dysfunctions in derivatives markets, e.g. by temporarily banning naked short selling of CDS or by requiring physical settlement of derivatives and by setting position limits in orde ...[+++]r to avoid undue concentration of dealers on some market segments;

The responses by consumers or undertakings concerned will aid in determining whether substitutable products do exist and, if so, where the boundaries of the relevant product market should be delineated(28).

Proper delineation of the product market may, however, require further consideration of potential substitutability from the supply side.