Markeder for finansielle tjenester: utfyllende bestemmelser om krav til åpenhet om aksjer, depotbeviser, børsomsatte fond, sertifikater m.m.: endringsbebstemmelser

Tittel

(Under forberedelse) Delegert kommisjonsforordning (EU) .../... om endring av delegert kommisjonsforordning (EU) 2017/587 hva angår reguleringstekniske standarder for krav til åpenhet til markedsplasser og investeringsforetak med hensyn til aksjer, depotbeviser, børsomsatte fond, sertifikater og andre lignende finansielle instrumenter og kravet om at transaksjon med visse aksjer skal gjennomføres via en markedsplass eller en systematisk internalisator

(Under development) Commission Delegated Regulation (EU) .../... amending Commission Delegated Regulation (EU) 2017/587 with regard to regulatory technical standards on transparency requirements for trading venues and investment firms in respect of shares, depositary receipts, exchange-traded funds, certificates and other similar financial instruments and on transaction execution obligations in respect of certain shares on a trading venue or by a systematic internaliser

Siste nytt

Utkast til delegert kommisjonsforordning vedtatt av ESMA og sendt til Kommisjonen 26.3.2018

Behandlende organ


 
 

Nærmere omtale

BAKGRUNN (fra ESMAs pressemelding 26.3.2018)

ESMA clarifies MiFIR quoting obligations for systematic internalisers

The European Securities and Markets Authority (ESMA) has published today its final report on proposed amendments to the Commission Delegated Regulation (EU) 2017/587 (RTS 1).

RTS 1 further details the transparency requirements for equity instruments, including the quoting obligations for Systematic Internalisers (SIs) under the Markets in Financial Instruments Regulation (MiFIR). In proposing to amend RTS 1, ESMA is aiming to level the playing field between trading venues and SIs and contribute to an efficient price discovery mechanism.

Over recent months, ESMA identified that further clarification around the concept of “prices reflecting prevailing market conditions” might be required to avoid SIs benefitting from a competitive advantage compared to trading venues.

ESMA, therefore, decided to clarify that SI quotes should reflect the minimum price increments applicable to EU trading venues. This means that SIs’ quotes would only reflect prevailing market conditions where, for instruments subject to the tick size regime, those quotes reflect the minimum price increments applicable to on-venue orders and quotes.

ESMA has sent its proposal to amend RTS 1 for endorsement to the European Commission.

Nøkkelinformasjon

EU



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Dokument (forberedende)
Dato
26.03.2018
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Norge



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Ansvarlig departement
Finansdepartementet