ESMA Publishes Updates Q&As on MiFID II and MiFIR Transparency Topics
On January 4, the European Securities and Markets Authority (ESMA) published an updated version of its questions and answers document (Q&As) on transparency topics under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). This follows the last updated version of its Q&As, which ESMA published on November 14, 2018 (for more information, see the November 16, 2018 edition of Corporate & Financial Weekly Digest).
The new and modified Q&As clarify the following topics:
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publication of request for market data transactions (under Q&A 4, section 3);
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the default transparency regime for equity instruments (under Q&A 3, section 3); and
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default large in scale and size-specific-to-the-instrument transparency thresholds for bonds (under Q&A 15, section 4).
The updated Q&As, along with an overview of them, are available here.
ESMA Publishes Updated Q&As on MiFID II and MiFIR Commodity Derivatives Topics
On January 4, the European Securities and Markets Authority (ESMA) published an updated version of its questions and answers document (Q&As) on commodity derivative topics under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). This follows the last updated version of its Q&As, which ESMA published on October 2, 2018 (for more information, see the October 12, 2018 edition of Corporate & Financial Weekly Digest).
In the latest update, Q&A1 under section 1 clarifies the correct application of the field “price multiplier” when reporting electricity contracts, in order to mitigate the risk of different contracts receiving the same international securities identification number (otherwise known as the ISIN).
The updated Q&As, along with an overview of them, are available here.