Regulatory Alerts2017-02-28
Commission Delegated Regulation supplementing MiFID II regarding package orders
The European Commission adopted a Delegated Regulation supplementing Regulation (EU) No 600/2014 to define the conditions under which package orders are considered to have a liquid market as a whole. The text establishes general and asset-class-specific criteria for interest rate, equity, credit, and commodity derivatives to determine eligibility for pre-trade transparency waivers. These standards ensure that only standardized and frequently traded package orders benefit from reduced transparency requirements, with the regulation applying from 3 January 2018.
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