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) 2021/12.IV:12.IV Background
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/12.IV
12.IV Background
Documentgegevens:
mr. J.E.C. Gulyás, datum 01-02-2021
- Datum
01-02-2021
- Auteur
mr. J.E.C. Gulyás
- JCDI
JCDI:ADS266749:1
- 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 MiFID I approach for equity pre- and post-trade data publication and consolidation is best understood against the background of the ISD-review. The ISD-review can be distinguished in an examination of Level 1, Level 2, and Level 3-provisions.
12.IV.1 Level 1: equity pre- and post-trade data in a competitive market setting12.IV.2 Level 2: specifying the publication and consolidation rules12.IV.3 Level 2: specific provisions for client limit order disclosure12.IV.4 Level 2: excluding SI identity from equity post-trade reports12.IV.5 Level 3: CESR guidance