ESMA_QA_1573

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1573

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Regulatory Context

Regulation : MIFIR

Level 1 Regulation: Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Pre-trade transparency waivers

Subject Matter: Minimum size of orders held in an order management facility for non-equity financial instruments

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Question

Submission Date: 07 February 2018

How should the minimum size of orders held in an order management facility of a trading venue pending disclosure be calculated for non-equity instruments?

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ESMA Answer

Answer Date: 07-02-2018

[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 5.12] For the purpose of Article 4(2)(a) of RTS 2 the minimum size of orders held in an order management facility of a trading venue pending disclosure should be calculated according to Table 4 of Annex II of RTS 2 except for emission allowances and emission allowance derivatives for which the notional amount of traded contracts should be used. Please also refer to Q&A 1571 in the Non-equity transparency section of this document.

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