(3) Subsections (1) and (2) do not apply in respect of a test market product as defined in subsection 6(1), if the dealer who intends to conduct the test marketing of the product has, six weeks before conducting the test marketing, filed with the Minister a notice of intention, in a form established by the Minister.

E. whereas speculation played a major role in the 2008 food prices crisis; whereas increased speculation with food commodities is also a consequence of growing volume and financial connection with other commodity markets and increasing risks on derivatives markets; whereas certain EU physical market players and derivative products on commodities are not supervised nor regulated as they benefit from exceptions and loopholes relating to MIFID (markets in financial instruments) and MAD (market abuse) directives,

7. Calls on the Commission to make comprehensive proposals in order to create and strengthen European commodity exchange authorities for spot and derivatives so as to limit and prevent such speculation by ensuring that any derivative transactions on food commodities involve at least one producer and one consumer ; to increase transparency by comprehensive provisions relating to transactions and positions reporting and registration requirements for market players, as well as an ad hoc market abuse regime for physical markets; in this ...[+++] regard welcomes the Commission proposal to regulate OTC derivatives and urges the Commission to put forward ambitious proposals, particularly in the framework of the MIFID revision;

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 order to avoid undue concentration of dealers on some market segments;

1. Welcomes the Commission's initiative for better regulation of derivatives, and in particular OTC derivatives with a view to reducing the impact of the risks in the OTC derivatives markets for the stability of financial markets as a whole, and backs the calls for legal standardisation of derivatives contracts (inter alia through regulatory incentives in the Capital Requirements Directive (CRD) regarding operational risk), the use of trade repositories and centralised data storage, the use and strengthening of central clearing houses and the use of organised trading venues;

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 order to avoid undue concentration of dealers on some market segments;