EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/4.III.2.3.1:4.III.2.3.1 General

EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/4.III.2.3.1

4.III.2.3.1 General

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

MiFID I also introduced the transparency threshold of a standard market size for SIs (not apparent under the ISD).1 The standard market size was introduced to balance (a) the MiFID objective of a high transparency degree with (b) risks faced by SIs due to trading on own account.2 The latter objective, that is – protect SI against position risks, is apparent in the MiFID I obligations. MiFID I used the standard market size-concept to protect the provision of liquidity, since for trades above a certain size SIs would not be required to publish binding quotes.3 MiFID I intended to compensate for the lack of pre-trade transparency through requiring SIs to provide firm quotes for sizes up to the standard market size (in case the share had a liquid market).4

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