EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/13.IV.6.2:13.IV.6.2 MiFID II Review Clause: a consolidated best bid and offer system (quote)?

EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/13.IV.6.2

13.IV.6.2 MiFID II Review Clause: a consolidated best bid and offer system (quote)?

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.

The previous paragraph shows that MiFID II mainly relies on market forces in the area of pre-trade consolidation services. MiFID II supplements the market driven-approach by setting out certain preconditions for a consolidated tape of equity pre-trade information (e.g. harmonized data standards for SI quotes). A MiFID II review-clause requires the Commission to assess solutions to reduce information asymmetries between market participants. The report of the Commission at least needs to include the feasibility of developing a European best bid and offer system for consolidated quotes to fulfill that objective (i.e. a consolidated quote).1 Therewith the current market-driven consolidation services model under MiFID II could in the future potentially change into a (more) mandatory-model. The Commission examines the feasibility of a consolidated quote in the MiFID II Review (see section V below).2

Deze functie is alleen te gebruiken als je bent ingelogd.