Secondary Markets SC
CHAIR : Martin Wheatley, Chief Executive Officer, FCA
RAPPORTEURS : Alberto GARCIA, Carsten OSTERMANN, Nuno CASAL, Catherine SUTCLIFFE
• The Secondary Markets Standing Committee undertakes ESMA’s work relating to the structure, transparency and efficiency of secondary markets for financial instruments, including trading platforms and OTC markets (regulated markets, MTFs, systematic internalisers, other organised trading platforms and activity of intermediaries in trading platforms).
• In particular, the Standing Committee assesses the impact of changes in the market structure to the transparency and efficiency of trading and develops ESMA policy in relation to the issues identified. This applies not only to shares that are currently subject to the Markets in Financial Instruments Directive (MiFID) transparency requirements but also to non-equity financial instrument and commodity markets. The Standing Committee also fosters supervisory convergence among the national authorities in its area of competence.
In terms of policy, the Standing Committee has responsibility for elaborating advice to the European Commission, and technical standards and guidelines and recommendations relating to the MiFID provisions applicable to regulated markets, MTFs, systematic internalisers, other organised trading platforms and pre- and post-trade transparency.
To access the databases set out under MiFID, please click here: Databases on Shares admitted to trading on EU Regulated Markets, Systematic Internalisers, Regulated Markets, MTFs and Central Counterparties.
Documents relating to transaction reporting are published on the pages of the IT Management and Governance Group, Market Integrity Standing Committee and MiFID Archive.
A consultative working group has been formed to assist the Standing Committee (the list of the members of the CWG is available on the right).
Any correspondence regarding the work of this Standing Committee should be sent to the ESMA Staff.