ESMA_QA_1634
Status: ✅ Answer Published
Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1634
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: Multilateral and bilateral systems
Subject Matter: Trading venue and co-location
Question
Submission Date: 31 January 2017
Would a trading venue locating its electronic systems on a third party data centre be required to comply with the co-location provisions under RTS 10 even where the venue is not providing the co-location service?
ESMA Answer
Answer Date: 31-01-2017
[ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 5.2] The principle underpinning Article 1 of RTS 10 is to ensure that electronic access to trading venues is fair and based on objective and non-discriminatory criteria. A trading venue should seek to ensure that this principle is not violated even when the connectivity service is provided by a third-party to members, participants or a client of the trading venue. Therefore, the trading venue should take all the necessary steps to ensure that the third party proximity hosting service provider offers a fair and non-discriminatory access to all members/participants/clients of the trading venue subscribing to such services. Such a requirement may include the conclusion or amendment of an agreement between the trading venue and the service provider so as to remain fully compliant with the provisions in RTS 10.
This document was automatically extracted from the ESMA EMIR Q&A database.