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18 November 2016

ESMA publishes MiFID II Q&As on transparency and market structure topics


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ESMA published two Questions and Answers documents regarding implementation issues relating to market structures and transparency topics under the Market in Financial Instruments Directive and Regulation.


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.

Q&A on transparency

Q&A on market structures

 



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