9.III.1.6 May investment firms publish equity post-trade data beyond MiFID II?

Investment firms operating outside RMs and MTFs are – similar to RMs and MTFs – permitted to publish more equity post-trade information than MiFID II requires. The reasoning is the same as for RMs and MTFs. Important arguments include the goals of MiFID II (i.e. increase transparency) and the concept of free enterprise. In short, investment firms operating outside RMs and MTFs should be able to publish more equity post-trade data than MiFID II requires because this supports the MiFID II goal of more transparency and the decision to do more than (EU) regulation requires is ultimately a decision for the enterprise (investment firm) in question. For a more detailed elaboration, reference is made to section II (paragraph 1.4) above.