ESMA · ESMA_QA_1573 Answer Published
Minimum size of orders held in an order management facility for non-equity financial instruments
- Regulation
- Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
- Article
- Regulation 2017/583- RTS on transparency requirements in respect of non-equity financial instruments (RTS 2)
- Topic
- Pre-trade transparency waivers
- Submitted
- 2018-02-07
- Answered
- 2018-02-07
Question
How should the minimum size of orders held in an order management facility of a trading venue pending disclosure be calculated for non-equity instruments?
Answer
[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 5.12] For the purpose of Article 4(2)(a) of RTS 2 the minimum size of orders held in an order management facility of a trading venue pending disclosure should be calculated according to Table 4 of Annex II of RTS 2 except for emission allowances and emission allowance derivatives for which the notional amount of traded contracts should be used. Please also refer to Q&A 1571 in the Non-equity transparency section of this document.
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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