ESMA_QA_1490
Topic
Direct Electronic Access and algorithmic trading
15/07/2022
Subject Matter
Direct Electronic Access (DEA) and algorithmic trading - Trading functionalities with automated management of orders
Question
Do orders that are executed through trading functionalities which offer automated managing of the order qualify as algorithmic trading?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_1508
Topic
ESMA70-1861941480-56 Questions and Answers on MiFIR reporting
11/07/2022
Subject Matter
Reporting of Emission Allowances
Question
How should trading venues record phase 4 emission allowances and derivatives thereof under MiFIR Article 25 and RTS 24 for the purpose of the order book record keeping?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP
ESMA_QA_1507
Topic
ESMA70-1861941480-56 Questions and Answers on MiFIR reporting
11/07/2022
Subject Matter
Reporting of Emission Allowances
Question
In case of phase 4 emission allowances or derivatives thereof reported with an ISIN which is different from the ISIN displayed on the European Commission website,
a) should trading venues and SIs amend the record in FIRDS with the correct ISIN displayed on the European Commission’s website?
b) how should trading venues amend the record concerning phase 4 emission allowances in FIRDS with the correct ISIN displayed on the European Commission’s website?
c) how should trading venues and SIs amend the record concerning futures on phase 4 emission allowances in FIRDS with the correct ISIN displayed on the European Commission’s website?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP
ESMA_QA_1506
Topic
ESMA70-1861941480-56 Questions and Answers on MiFIR reporting
11/07/2022
Subject Matter
Reporting of Emission Allowances
Question
How should Trading Venues and SIs report emission allowances (i.e., European Union Allowances (EUAs) and European Union Aviation Allowances (EUAAs)) auctioned for the phase 4 of the EU Emission Trading System (ETS) (hereafter “phase 4 emission allowances” or derivatives thereof under MiFIR Article 27 and RTS 23?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP
ESMA_QA_969
Topic
Delegation
01/07/2022
Subject Matter
Responsibility to ensure compliance with the rules governing marketing communications
Question
When the marketing of an AIF or a UCITS is not performed by the AIFM or UCITS management company but by a third party distributor, does the responsibility for ensuring that marketing communications comply with the requirements set out in Article 4(1) of Regulation (EU) 2019/1156 lie with the AIFM or the UCITS management company where there is a contractual relationship between the AIFM or the UCITS management company and the third party distributor? Conversely, does the responsibility for ensuring that marketing communications comply with the requirements set out in Article 4(1) of Regulation (EU) 2019/1156 still lie with the AIFM or the UCITS management company in case there is no contractual relationship with the third party distributor?
Level 1 Regulation
Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC