ESMA – The European Securities and Markets Authority (ESMA) has published two Questions and Answers (Q&A) documents regarding implementation issues relating to market structures and transparency topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
ESMA has published a new Q&A document on market structures which provides clarifications on the two following topics:
- data disaggregation; and,
- the mandatory tick size regime.
ESMA has also updated its Q&A on transparency with two new questions which provide details regarding:
- article 4(7) of MiFIR, review of waivers granted in accordance with MiFID I; and,
- the procedure for granting a waiver from pre-trade transparency obligations for illiquid non-equity financial instruments.
The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of MiFID II/MiFIR and its implementing measures.
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
Citi Changes Organizational Structure
SEC Charges Virtu for Disclosures Relating to Information Barriers
ICE Futures Singapore Partners with CoinDesk Indices
Related articles
-
The rules establish EU-level ‘consolidated tapes’ across assets.
-
Legislation includes mandatory contribution from trading venues, a single consolidator model real-time data.
-
Standardized credits can be created & distributed with full auditability through the transaction lifecycle.
-
Impact was mitigated on London’s Alternative Investment Market by NOMAD requirement.
-
The bill directs the SEC to extend the MiFID II no-action relief for six months.