EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/5.III.1.2.2:5.III.1.2.2 Substantial basis

EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/5.III.1.2.2

5.III.1.2.2 Substantial basis

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 II states that the substantial basis is measured either (a) by the size of the OTC trading carried out by the investment firm in relation to the total trading of the investment firm in a specific financial instrument or (b) by the size of OTC trading carried out by the investment firm in relation to the total trading in the EU in a specific financial instrument.1

A MiFIR Delegated Regulation specifies the term ‘substantial’ in further detail. A substantial basis in an equity instrument is in place where (i) the size of OTC trading carried out by it on own account when executing client orders is, (ii) during the past 6 months, equal to or larger than either: (1) 15 percent of the total turnover in that equity instrument executed by the investment firm on own account or on behalf of clients and executed on a trading venue or OTC or (2) 0.4 percent of the total turnover in that equity instrument executed in the EU on a trading venue or OTC.2

Deze functie is alleen te gebruiken als je bent ingelogd.