EU Financial Regulatory Q&A Database

Official Q&As published by EBA, ESMA, EIOPA and the ESA Joint Committee. Non-binding but treated as authoritative guidance by national competent authorities across the EU.

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139 Q&As matching current filters · page 1 of 3

Legal qualification of Financial Transmission Rights under MiFID II

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

ESMA Answer Published

Answered 2026-05-26

Position reporting

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

ESMA Answer Published

Answered 2025-12-11

Position reporting

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

ESMA Answer Published

Answered 2025-12-11

Transactions that should be included in the calculations

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

ESMA Published Answer Updated

Answered 2025-10-10

Q&A on open interest thresholds in energy derivatives

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets · Art. Article 83(1)(b) of CDR 2017/565; Article 57(1) of MiFID II

ESMA Answer Published

Answered 2025-02-13

Application of MiFID II after 3 January 2018, including issues of ‘late transposition’

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

ESMA Published Answer Updated

Answered 2024-10-16

Application of MiFID II after 3 January 2018, including issues of ‘late transposition’

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

ESMA Published Answer Updated

Answered 2024-10-16

Trading venue and exemption

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

ESMA Published Answer Updated

Answered 2024-10-16

Access rights to venues trading for CCP with links with tradibg venue which opted out the access provisions for ETDs

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

ESMA Published Answer Updated

Answered 2024-10-16

Q&A on lot sizes and position limits

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

ESMA Answer Published

Answered 2024-10-11

MiFID II Q&A on the Ancillary Activity Exemption

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

ESMA Answer Published

Answered 2024-03-05

Market making in securitised derivatives

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets · Art. Article 2(1)(b)

ESMA Answer Published

Answered 2024-01-08

Multilateral and bilateral systems - Systematic internalisers

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

ESMA Answer Published

Answered 2022-12-16

Ancillary activity excemption

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

ESMA Answer Published

Answered 2022-09-23

Hedge exemption

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

ESMA Answer Published

Answered 2022-09-23

Position limits on a trading venue or EEOTC

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

ESMA Answer Published

Answered 2022-09-23

Securitised derivatives

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets · Art. Art 57(1) and 58(1) of MiFID II

ESMA Answer Published

Answered 2022-09-23

Position reporting

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

ESMA Answer Published

Answered 2022-09-23

Agricultural contracts

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

ESMA Answer Published

Answered 2022-09-23

Intercommodity spread or diff contracts

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

ESMA Answer Published

Answered 2022-09-23

Scope of the ancillary activity test

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

ESMA Answer Published

Answered 2022-09-23

Position limits - the definition of "a lot"

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

ESMA Answer Published

Answered 2022-09-23

Third country issues

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

ESMA Answer Published

Answered 2022-09-23

Position limits for options and futures

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

ESMA Answer Published

Answered 2022-09-23

Position reporting

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

ESMA Answer Published

Answered 2022-09-23

Calculation of denominator

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

ESMA Answer Published

Answered 2022-09-23

Various underlyings listed in Annex I, Section C(10) of MIFID II?

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

ESMA Answer Published

Answered 2022-09-23

Criteria privileged transactions exemption

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

ESMA Answer Published

Answered 2022-09-23

Direct Electronic Access (DEA) and algorithmic trading - Trading venues

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

ESMA Answer Published

Answered 2022-09-23

Position reporting

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

ESMA Answer Published

Answered 2022-09-23

Positions with different maturities

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

ESMA Answer Published

Answered 2022-09-23

Direct Electronic Access (DEA) and algorithmic trading - Article 17 of MiFID II and RTS 6 - Third party systems with algorithmic trading functionalities

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

ESMA Answer Published

Answered 2022-07-15

Direct Electronic Access (DEA) and algorithmic trading - Trading functionalities with automated management of orders

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

ESMA Answer Published

Answered 2022-07-15

Minimum tick size regime under Article 49 of MiFID II - Pre-trade transparency waivers

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

ESMA Answer Published

Answered 2021-04-06

Direct Electronic Access (DEA) and algorithmic trading

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

ESMA Answer Published

Answered 2021-02-03

Multilateral and bilateral systems - Systematic internalisers - Matched Principal Trading

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

ESMA Answer Published

Answered 2021-02-03

Systematic internaliser regime - Transparency - Internaliser Thresholds

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

ESMA Published Answer Updated

Answered 2020-07-08

Multilateral and bilateral systems - Authorisation as trading venue for a system facilitating the multilateral interaction of trading interests in securities financing transactions

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

ESMA Answer Published

Answered 2020-05-29

Tick size regime - Periodic auctions systems

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

ESMA Answer Published

Answered 2019-10-02

Price Multiplier for electricity derivative contracts

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

ESMA Answer Published

Answered 2019-09-04

Voluntary SI regime

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets · Art. Markets in Financial Instruments Regulations (MiFIR) Regulation (EU) No 600/2014- Secondary Markets

ESMA Answer Published

Answered 2019-06-03

Third country trading venue request access to an EU CCP in the absence of an equivalence decision

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

ESMA Answer Published

Answered 2019-04-02

Multilateral and bilateral systems - Systematic internalisers

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

ESMA Answer Published

Answered 2019-04-01

Multilateral and bilateral systems - Systematic internalisers - “risk-facing activity”

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

ESMA Answer Published

Answered 2019-04-01

Direct Electronic Access (DEA) and algorithmic trading - Article 19 of CDR 2017/565 - high frequency trading techniques tests

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

ESMA Answer Published

Answered 2019-02-01

Schedule for the initial implementation of the systematic internaliser regime

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

ESMA Published Answer Updated

Answered 2019-01-30

Requirement imposed on market markers to post simultaneous two-way quotes of comparable size

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

ESMA Answer Published

Answered 2018-11-14

Can a market operator or an investment firm operating an MTF apply for a single segment of the MTF to be registered as an SME growth market?

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

ESMA Answer Published

Answered 2018-10-04

Market making agreement for payment received from a trading venue

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

ESMA Answer Published

Answered 2018-10-04

Incentives to be provided under stressed market conditions by the trading venues

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

ESMA Answer Published

Answered 2018-10-04

Source: EBA Single Rulebook Q&A, ESMA Q&A, EIOPA Q&A, ESA Joint Q&As. Updated weekly. Q&As are non-binding guidance.

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