ESMA issued a public consultation regarding draft guidelines on trading halts under the Markets in Financial Instruments Directive.
ESMA is mandated to develop Guidelines on the calibration of those trading halts. In that context, ESMA considers necessary to issue Guidelines at its own initiative on how trading halts should be communicated to market participants and other venues.
The proposed Guidelines aim to provide guidance on:
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The calibration of trading halts
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The dissemination of information regarding the activation of mechanisms to manage volatility on a specific trading venue
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The procedure and format to submit the reports on trading halts’ parameters from National Competent Authorities (NCAs) to ESMA
ESMA will consider the responses received to this consultation paper with a view to finalising the Guidelines and publishing a final report in Q1 2017.
Full guidelines
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