The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published two final Reports reviewing key provisions of the MiFID II/MiFIR transparency regime.
The first Report reviews the MiFIR transparency regime for equity instruments and contains proposals for targeted amendments regarding the transparency obligations for trading venues and recommendations on other key transparency provisions.The second Report reviews the pre-trade transparency obligations applicable to systematic internalisers in non-equity instruments.
See it here.