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

04 January 2019

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

The new Q&As provide clarification on the following topics:

  • Publication of request for market data (RFMD) transactions;
  • Default transparency regime for equity instruments (amendment to an existing Q&A); and, 
  • Default LIS and SSTI thresholds for bonds.

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.