ESMA_QA_1600

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1600

---

Regulatory Context

Regulation : MIF2

Level 1 Regulation: Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Direct Electronic Access and algorithmic trading

Subject Matter: Market makers

---

Question

Submission Date: 31 January 2017

Do the references to ‘market makers’ in MiFID II Article 2(1)(d)(i) and Article 2(1)(j) cover those market makers as defined under MiFID II Article 4(1)(7) or those firms engaged in a market making agreement according to Article 17(4) of MiFID II?

---

ESMA Answer

Answer Date: 31-01-2017

[ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 3.4] The reference to market makers’ in MiFID II Article 2(1)(d)(i) and Article 2(1)(j) covers both firms engaged in a market making agreement according to Article 17(4) of MiFID II and other market makers covered by Article 4(1)(7) of MiFID II.

---

This document was automatically extracted from the ESMA EMIR Q&A database.