Displaying 1281 - 1285 of 1581
ESMA_QA_1648
Topic
Multilateral and bilateral systems
03/04/2017
Subject Matter
Organized Trading facilities OTFs
Question
Where an investment firm that is an SI has to set up a separate legal entity to operate an OTF (or vice-versa), can those two entities have shared resources?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_1647
Topic
Multilateral and bilateral systems
03/04/2017
Subject Matter
Organized Trading facilities OTFs -
Question
Can an SI and an OTF be operated by the same legal entity when they do not trade the same instruments or class of instruments (e.g. an SI in equities and an OTF in derivatives)?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_1646
Topic
Multilateral and bilateral systems
03/04/2017
Subject Matter
Organized Trading facilities OTFs
Question
On what basis can a third party investment firm carry out market making on an OTF on an independent basis (cf. Article 20(5) of MiFID II)?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_1645
Topic
Multilateral and bilateral systems
03/04/2017
Subject Matter
Organized Trading facilities OTFs - Liquidity of sovereign debt instruments
Question
The operator of an OTF may engage in dealing on own account other than matched-principal trading only with regard to sovereign debt instruments that do not have a liquid market. (Article 20(3) of MiFID II. How should the liquidity of sovereign debt instruments be assessed?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_1644
Topic
Multilateral and bilateral systems
03/04/2017
Subject Matter
Organized Trading facilities OTFs - Difference with MTFs
Question
What distinguishes an OTF from an MTF?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets