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) 2021/9.II.1.2.2:9.II.1.2.2 Traded in the system
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/9.II.1.2.2
9.II.1.2.2 Traded in the system
Documentgegevens:
mr. J.E.C. Gulyás, datum 01-02-2021
- Datum
01-02-2021
- Auteur
mr. J.E.C. Gulyás
- JCDI
JCDI:ADS266825:1
- 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 condition ‘traded on that trading venue’, means that each transaction in equity instruments concluded on the RM/MTF needs to be made post-trade transparent (in case no exceptions apply).1 A transaction is concluded on an RM or MTF where it takes place in the system of an RM or MTF. This follows from the MiFID II-definitions of RMs and MTFs.2 A ‘system’ encompasses all those markets that are (1) composed of a set of rules and a trading platform (e.g. electronic system), as well as (2) those markets that only function on the basis of a set of rules.3 A similar definition was in place under MiFID I.4