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) 2021/5.III.2.6:5.III.2.6 Background to the obligation to publish quotes
EU Equity pre- and post-trade transparency regulation (LBF vol. 21) 2021/5.III.2.6
5.III.2.6 Background to the obligation to publish quotes
Documentgegevens:
mr. J.E.C. Gulyás, datum 01-02-2021
- Datum
01-02-2021
- Auteur
mr. J.E.C. Gulyás
- JCDI
JCDI:ADS266392:1
- Vakgebied(en)
Financieel recht / Bank- en effectenrecht
Financieel recht / Europees financieel recht
Financiële dienstverlening / Financieel toezicht
Toon alle voetnoten
Voetnoten
Voetnoten
For an examination of the MiFID I equity pre-trade transparency requirements for SIs, reference is made to chapter 4(section III).
Deze functie is alleen te gebruiken als je bent ingelogd.
The MiFID II obligation for SI to publish quotes is overall a legacy from MiFID I. As noted, several requirements, such as the publication of firm quotes in relation to liquid shares and up to a standard market size, were already present under MiFID I.1 The obligation is ‘overall’ a legacy from MiFID I, since MiFID II is stricter compared to MiFID I. The main changes from MiFID I to MiFID II are set out below.
5.III.2.6.1 Level 1 text: aim to publish more meaningful pre-trade data5.III.2.6.2 Level 1 and Level 2 text: a new liquid market-definition5.III.2.6.3 Level 2 text: new details for the standard market size-definition5.III.2.6.4 Level 1 and Level 2 text: rule-based provisions