ESMA updates its Q&As on MiFID II and MiFIR transparency topics

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers regarding market structures issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

ESMA has introduced changes to one of its Q&A on tick sizes to reflect the amendment introduced in Article 49(1) of MiFID II which excludes Large in Scale transactions from the mandatory tick size regime.

The purpose of ESMA’s Q&As on market structures issues is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR. They provide responses to questions posed by the general public and by market participants in relation to the practical application of level 1 and level 2 provisions to transparency and market structures issues.

ESMA will continue to develop these Q&As in the coming months and will review and update them where required.