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

18 November 2016

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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