9.IV.3.3 FITRS

The other database relevant for the MiFID II equity post-trade transparency regime is FITRS. FITRS stands for Financial Instruments Transparency System. FITRS is relevant for the main MiFID II equity post-trade transparency calculations and estimates (i.e. whether a transaction is large in scale).1 As noted above, MiFID II requires RMs, MTFs, APAs and CTPs to report to the responsible NCA (or ESMA in case of delegation) periodic and ad hoc reports to ensure the calculations for the MiFID II equity post-trade transparency regime can be made. The NCA (or ESMA in case of delegation) performs the calculations and estimates. The consolidated results of the calculations and estimates are published through FITRS, as available through the ESMA Website.2