ESMA update its Q&As on MIFID II and MIFIR Market Structure and Transparency Topics

November 14th 2018 

The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers regarding market structures and transparency issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

The new Q&As provide clarification on the following topics:

  • Making data available free of charge 15 minutes after publication (amendment to an existing Q&A);
    • Obligations applicable to systematic internalisers in non-TOTV instruments;
    • Definition of RFQ systems;
    • Pre-trade transparency in RFQ systems;
    • Concept of comparable size in market making agreements and voluntary provision of liquidity.

For more information, please refer to the ESMA press release, here.

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