Regulatory Alerts2015-09-28
Draft RTS and ITS on MiFID II and MiFIR Transparency and Microstructural Requirements
The European Securities and Markets Authority issued draft regulatory and implementing technical standards to supplement MiFID II and MiFIR regarding market transparency and microstructural issues. These standards establish detailed requirements for pre- and post-trade transparency, including specific thresholds for large orders, deferral mechanisms, and obligations for investment firms and trading venues. The document further defines organizational requirements for algorithmic trading, market making agreements, tick size regimes, and data reporting obligations to ensure uniform application across the European Union.
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