Regulatory Alerts2019-12-11
Final Report amending ITS on main indices and recognised exchanges under CRR
ESMA proposes amendments to Commission Implementing Regulation (EU) 2016/1646 to update the methodology for identifying main indices and the list of recognised exchanges under the Capital Requirements Regulation. The new index selection criteria replace the previous relative test with a two-step approach based on free float and average daily turnover thresholds to better capture liquidity and market capitalisation. Additionally, the list of recognised exchanges is updated to include third-country venues deemed equivalent under MiFID II, with specific provisions for UK exchanges contingent on Brexit outcomes.
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