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) 2021/13.III.3.9:13.III.3.9 MiFID II Review Clause: the establishment of a single CTP?
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/13.III.3.9
13.III.3.9 MiFID II Review Clause: the establishment of a single CTP?
Documentgegevens:
mr. J.E.C. Gulyás, datum 01-02-2021
- Datum
01-02-2021
- Auteur
mr. J.E.C. Gulyás
- JCDI
JCDI:ADS267201:1
- Vakgebied(en)
Financieel recht / Bank- en effectenrecht
Financieel recht / Europees financieel recht
Financiële dienstverlening / Financieel toezicht
Deze functie is alleen te gebruiken als je bent ingelogd.
Until this point in time no CTP is authorised under MiFID II. A MiFID II review-clause leaves the option open to establish a single CTP through a public procurement process (i.e. a tender) in case the market does not result in the timely delivery of a CTP.1 Consequently, the current CTP-model could in the future potentially change from a group to a monopoly model. Exercise of the MiFID II review-clause would mean that the CTP-framework would remain commercial, since a commercial party, instead of public authority, would be appointed as the single CTP.2 The lack of a CTP under MiFID II is part of the MiFID II Review of ESMA and the Commission (see section V below).