EU Equity pre- and post-trade transparency regulation: from ISD to MiFID II
Einde inhoudsopgave
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/5.II.2.2.1:5.II.2.2.1 General
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/5.II.2.2.1
5.II.2.2.1 General
Documentgegevens:
mr. J.E.C. Gulyás, datum 01-02-2021
- Datum
01-02-2021
- Auteur
mr. J.E.C. Gulyás
- JCDI
JCDI:ADS267022:1
- Vakgebied(en)
Financieel recht / Bank- en effectenrecht
Financieel recht / Europees financieel recht
Financiële dienstverlening / Financieel toezicht
Toon alle voetnoten
Voetnoten
Voetnoten
Consider, for example, the situation where two members or participants bilaterally agree the price and volume of a trade before transmitting it to a trading venue (ESMA, Discussion Paper: MiFID II/MiFIR, 22 May 2014(ESMA/2014/548), p. 66).
Deze functie is alleen te gebruiken als je bent ingelogd.
Similar to the previous regime, MiFID II encompasses a negotiated trade waiver. The MiFID II negotiated trade waiver permits one or more members/participants of an RM or MTF to privately negotiate the terms of a transaction, that is – without pre-trade transparency (dark).1 The rationale of the waiver is, among other things, to support best execution through bilateral negotiation.