Thu. Nov 14th, 2019

Planet Compliance

Innovation & Regulation in Finance

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

2 min read

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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.

The ESMA statement and related information can be found here.

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