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ARTICLE · 30 DECEMBER 2015

ESMA Publishes Further Draft ITS Under MiFID II

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On December 11, 2015, the European Securities and Markets Authority (ESMA) submitted to the European Commission its final report (ESMA/2015/1858) on draft implementing technical standards...

European UnionFinance and Banking
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On December 11, 2015, the European Securities and Markets Authority (ESMA) submitted to the European Commission its final report (ESMA/2015/1858) on draft implementing technical standards (ITS) under the MiFID II Directive (2014/65/EU) and the Markets in Financial Instruments Regulation (Regulation 600/2014) (MiFIR). The Commission has three months in which to decide whether to endorse the draft ITS.

The eight draft ITS relate to the following areas:

  1. Standard forms, templates and procedures for cooperation arrangements in respect of a trading venue whose operations are of substantial importance in a host member state.
  2. Format and timing of communications relating to the suspension and removal of financial instruments from trading on a regulated market (RM), a multilateral trading facility (MTF) or an organized trading facility (OTF).

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