ESMA_QA_1586

03/06/2019

Subject Matter

Mandatory SI regime

Original question

Is it possible for investment firms to qualify as a systematic internaliser under the mandatory regime in instruments that are not traded on a trading venue (non-TOTV instruments)?

ESMA Answer

03-06-2019

Original language

This question was deleted on 10 October 2025.

Status: Published Answer Updated

Additional Information

Level 1 Regulation

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets

Additional Legal Reference

Markets in Financial Directorate II (MiFID II) Directive 2014/65/EU- Secondary Markets

Topic

Systematic internaliser regime