ESMA · ESMA_QA_1561 Published Answer Updated
Scope of Article 9(1)(c) of MiFIR
- Regulation
- Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
- Topic
- Non-equity transparency
- Submitted
- 2018-10-04
- Answered
- 2024-10-16
Question
What types of derivatives can benefit from the pre-trade transparency waiver provided under Article 9(1)(c) of MiFIR?
Answer
OTC derivatives specified in Article 8a(2) of MiFIR that are both (i) not subject to the trading obligation as referred to in Article 28 of MiFIR and (ii) for which there is not a liquid market and other derivatives for which there is not a liquid market can benefit from the pre-trade transparency waiver set out under Article 9(1)(c) of MiFIR.
This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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