November 4, 2016
The European Securities and Markets Authority (ESMA) has published an updated questions and answers (Q&A) document on the application of MiFID II/ MiFIR which clarifies when ESMA will publish the first set of data needed to implement the Systematic Internaliser (SI) regime and the date by when firms must comply with the SI regime for the first time.
The earliest mandatory deadline on which firms must comply with the SI regime, when necessary, is 1 September 2018 although MiFID II and MiFIR apply from 3 January 2018. However, ESMA stresses that investment firms can opt-in to the SI regime for all financial instruments from 3 January 2018 as a means of complying, for example, with the trading obligation for shares.
The press release can be found on the ESMA website here.