The draft Mifid II RTS are set to be released by European regulator Esma next week
The European Securities and Markets
Authority (Esma) will next week release its Markets in
Financial Instruments Directive (Mifid) II regulatory technical
standards (RTS) draft rules, but a number of contentious
FOW sources suggest that publication of
the rules governing two of the key RTS issues - the ancillary
activity exemption for commodity traders and pre-trade
transparency – are set to be delayed until later this
No doubt many market participants will be
hoping that Esma has listened to their feedback and made
considerable revisions to the rules published last
And with the markets’ breath
bated for the rules to drop, which a spokesperson told FOW on Wednesday
will now happen next week rather than the rumoured Thursday
24 September release, it is time to take a look at these
contentious provisions in more detail.
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