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) 2021/8.III.2.1:8.III.2.1 Goal
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/8.III.2.1
8.III.2.1 Goal
Documentgegevens:
mr. J.E.C. Gulyás, datum 01-02-2021
- Datum
01-02-2021
- Auteur
mr. J.E.C. Gulyás
- JCDI
JCDI:ADS266897:1
- 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.
MiFID I enabled investment firms trading outside an RM or MTF to defer post-trade transparency publication under certain conditions. The rationale was similar as for the deferral possibilities concerning investment firms trading on RMs or MTFs. MiFID I permitted deferral to avoid impairment of liquidity.1 Deferral of post-trade transparency obligations could protect liquidity by giving investment firms time to rebalance risk in case the investment firm recently traded on own account (i.e. was a party) in a large transaction. Without deferral other market participants could take harmful positions relative to the investment firm taking the risk position.2