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.V.1.3.2:5.V.1.3.2 ‘Dual listed’ shares
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/5.V.1.3.2
5.V.1.3.2 ‘Dual listed’ shares
Documentgegevens:
mr. J.E.C. Gulyás, datum 01-02-2021
- Datum
01-02-2021
- Auteur
mr. J.E.C. Gulyás
- JCDI
JCDI:ADS267180:1
- 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.
The scope of the MiFID II share trading-obligation includes so-called ‘dual listed’ shares, that is – (1) shares admitted to trading on an RM or traded on an RM/MTF and (2) non-EEA listed.1 The practical effect is that where shares are dual listed, for example in an EEA jurisdiction and Singapore, a MiFID II investment firm must trade the share on an EEA regulated venue, unless (a) the Singaporean trading venue (third country trading venue) is deemed equivalent by the Commission or (b) exceptions to the MiFID II share trading-obligation apply.2 The scope of the MiFID II share trading-obligation, including in relation to ‘dual-listed’ shares, is part of the MiFID II Review (see section VII). For an examination of equivalence and the exceptions, reference is made to paragraph 2 below.