ESMA · ESMA_QA_1637 Answer Published

Client relationship between two counterparties that trade on a trading venue

Name: Client relationship between two counterparties that trade on a trading venue: ESMA Q&A — EU Financial Regulatory Q&A
Creator: European Securities and Markets Authority
License: https://creativecommons.org/licenses/by/4.0/

Regulation: Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
Topic: Multilateral and bilateral systems
Submitted: 2017-11-15
Answered: 2017-11-15

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Question

Does a client relationship exist between two counterparties that trade on a trading venue?

Answer

[ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 5.5] No, there is no new client relationship between two counterparties to a trade that takes place on a trading venue, including when the trading venue operates on a request for quote basis.

View original on European Securities and Markets Authority ↗

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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