The EU’s Market in Financial Instruments Regulation (MiFIR) is a complicated piece of legislation, but it might soon become easier to comply to.
The European Securities and Markets Authority (ESMA) has asked market stakeholders to share their views and insights about proposals to MiFIR’s transparency regime for non-equity instruments and the trading obligation for derivatives. The consultation will close on April 19, 2020.
Having looked at in-depth data analyses of the effects of the current regime since 2018, ESMA has decided to try to simplify it and try to create a uniform set of rules in the EU. ESMA’s changes are also aimed at improving the overall trade transparency available to market participants for non-equity instruments.
The consultation paper also includes ESMA’s report on the impact of the newly established trading obligation for derivatives and the progress made in moving trading in standardised OTC derivatives to exchanges or electronic trading platforms.
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