FI publishes supplementary transparency calculations for MiFIR/MiFID II

2018-01-05 | ESMA News MiFID Markets

In accordance with the announcement published on 7 December 2017, FI has carried out supplementary transparency calculations for equity instruments and bonds admitted for trading on a Swedish trading venue in November and December 2017.

The transparency calculations are used to determine the possibilities for receiving exemption from the requirement on pre-trade transparency and deferring the post-trade disclosure of information about transactions.

ESMA has published transparency calculations for all financial instruments covered by MiFIR with the exception of equity instruments and bonds admitted for trading after 13 September 2017 and 31 October 2017, respectively. The transparency calculations for equity instruments and bonds after these dates are handled by the national supervisory authorities.

On 7 December 2017, FI published transparency calculations for equity instruments admitted for trading on a Swedish trading venue during the period 13 September - 24 October 2017. FI is now supplementing these calculations with the remaining equity instruments and bonds admitted for trading on Swedish trading venues through 29 December 2017.

The calculations also include information about tick size for the equities covered by the published transition calculations above in accordance with Article 5(1)(a) of Commission Delegated Regulation (EU) 2017/588 (RTS 11).

ESMA will publish on 8 January 2018 a summary of the transparency calculations carried out by the national supervisory authorities for equities and bonds admitted for trading in November and December 2017.

The transparency calculations are based on trading data from the period prior to the entry into force of MiFIR/MiFID II and apply as of 3 January 2018. The calculations will apply for bonds (liquidity assessment) until 15 May 2018, for equity instruments until 31 March 2019, and for other classes of non-equity instruments until 31 May 2019.