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) 2021/9.III.2.1:9.III.2.1 Goal
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/9.III.2.1
9.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:ADS267011:1
- 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.
Similar to RMs and MTFs, MiFID II enables investment firms trading outside an RM/MTF to defer equity post-trade data publication under certain conditions. The rationale of equity post-trade transparency deferral is the same as under MiFID I. Similar to the previous regime, MiFID II permits deferral to avoid impairment of liquidity.1 Deferral of post-trade transparency obligations supports the provision of liquidity by giving investment firms time to lay off their position. Without deferral other market participants could take harmful positions relative to the investment firm taking a risk position. 2