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ESMA updates its MiFID II Q&As on market structures and transparency topics

28 March 2018

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

The Q&As provide clarification on the following topics:

  • the scope of the trading obligation for derivatives;
  • the default tick size regime;
  • fee structures;
  • SI and matched principal trading;
  • DEA provider’s controls and suitability checks.

The purpose of these Q&As is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR. They provide responses to questions posed by the general public and market participants in relation to the practical application of level 1 and level 2 provisions relating to transparency and market structures issues.

ESMA will continue to develop these Q&As in the coming months and will review and update them where required.