ESMA updates MiFID II transparency calculations 19 January 2018Paris Reporter: Zsuzsa Szabo
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The European Securities and Markets Authority (ESMA) has published an extended version of its transitional transparency calculations (TTC) for equity and bond instruments reported under the second Markets in Financial Instruments Directive/Regulation (MiFID II/R).
Equity instruments traded for the first time on a trading venue between 13 September 2017 and 2 January 2018 have been included into TTC and applies to all instruments first listed before 3 January 2018.
The MiFID II/R pre-trade transparency obligations are expected to have an indirect effect on some types of securities financing transactions under the Securities Financing Transactions Regulation.
The Paris-based authority also added bond instruments that were traded for the first time on a trading venue between 1 November 2017 and 2 January 2018.
National competent authorities (EEA CA) calculated the newly added instruments.
With the exception of Poland, the EEA CAs have delegated the computation of transparency calculations to ESMA including the TTC.
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