European Securities and Markets Authority Q&A Database

Ongoing monitoring of collateral requirements (old CCP question 22 dated 2/10/2017)

Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs · Art. Article 46 of EMIR and Article 37 of the RTS on CCP requirements - old CCP question 22 dated 2/10/2017

Provision of banking-type ancillary services

Central Securities Depositories Regulation (CSDR) Regulation (EU) No 909/2014- PTR- CSDR

Use of a benchmark (ESMA70-145-114 Q&A_5.2)

Benchmarks Regulation (BMR) - Regulation 2016/1011

Family of benchmarks (ESMA70-145-114 Q&A_5.1)

Benchmarks Regulation (BMR) - Regulation 2016/1011

Exemption on single reference price (ESMA70-145-114 Q&A_4.3)

Benchmarks Regulation (BMR) - Regulation 2016/1011

Application of the Regulation to EU and third country central banks (ESMA70-145-114_Q&A 4.1)

Benchmarks Regulation (BMR) - Regulation 2016/1011

Delayed inside information that lost the feature of the price sensitivity

Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity

Issuer’s responsibility in case of delegation

Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity

Subject of the insider list requirements

Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity

Definition of an APM; Paragraph 17 to 19 and 24 of the APMs Guidelines.

Transparency Directive (TD) Directive 2004/109/EC

Compliance by reference; Paragraph 45 and 46 of the APMs Guidelines (not applicable to prospectuses which are covered by a separate regime).

Transparency Directive (TD) Directive 2004/109/EC

Recording of telephone conversations and electronic communications

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries

Best Execution

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Unauthorised person as an investment firm meeting the requirements of Article 53(3) of MiFID II being a member or participant of a regulated market or an MTF

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Order Record Keeping

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP

Direct Electronic Access (DEA) and algorithmic trading

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets

Position reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Kill functionality

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Direct Electronic Access (DEA) and algorithmic trading

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Transaction reporting

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP

NFE application of a trading venue for position limit exemption

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Positions held by an investment firm on behalf of their clients

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Systematic internaliser

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Position reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Position reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Position reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Transaction reporting

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP

Trading venues

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets

Record-keeping obligations of HFT firms - non-algorithmic trading desks

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Position reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

CCP - novation trade acceptance model

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Transparent and non-discriminatory rules

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Reference Data for financial instruments

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP

Field 30 - Quantity

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP

Under which circumstances a trading venue may cancel, vary or correct a transaction?

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Trading venues - maximum bid-ask ranges for all instruments traded on venues or only for instruments with market making scheme

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Order to Trade Ratio (OTR)

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Trading venues - OTRs

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Closely associated persons under Article 3(1)(26)(d) of MAR

Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity

Transitional provisions applicable to EU index providers starting to provide a benchmark between 1 July 2016 and 31 December 2017 (ESMA70-145-114_Q&A 9.2)

Benchmarks Regulation (BMR) - Regulation 2016/1011

Transitional provisions applicable to EU index providers already providing a benchmark on 30 June 2016 (ESMA70-145-114_Q&A 9.1)

Benchmarks Regulation (BMR) - Regulation 2016/1011

Independence of management boards and supervisory functions - Group links, independence and cooling-off periods

Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC

Information on cost and charges

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Post-sale reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Post-sale reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Post-sale reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Post-sale reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Information on cost and charges

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Information on cost and charges

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Appropriateness Complex Financial Instruments

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries