ESMA_QA_1637

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1637

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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: Client relationship between two counterparties that trade on a trading venue

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Question

Submission Date: 15 November 2017

Does a client relationship exist between two counterparties that trade on a trading venue?

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ESMA Answer

Answer Date: 15-11-2017

[ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 5.5] No, there is no new client relationship between two counterparties to a trade that takes place on a trading venue, including when the trading venue operates on a request for quote basis.

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