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After extensive discussion and debate, in April 2014, the European Parliament approved both MiFID 2, an updated version of MiFID 1, and its accompanying Regulation (EU) No 600/2014. [6] The directive and regulation include fewer exemptions and expand the scope of MiFID 1 to cover a larger group of companies and financial products.
According to the technical specification, [3] new entries are published on a daily basis, every morning by 09:00 CET as XML-file. It contains the ISIN and the Market Identifier Code (MIC) as well as e.g. the Classification of Financial Instruments (CFI)-code and other information of the instrument.
MiFID II classified three types of trading venue: A regulated market (RM) run by a market operator; A multilateral trading facility (MTF) An organised trading facility (OTF) Permission to run any of the three types of service was required from an appropriate regulator, with the existing exchanges registering as regulated markets.
The MiFID II and MiFIR directives gave ESMA the responsibility of implementing technical standards in the financial markets. Its mandate includes investor protection and financial integrity and transparency with the Market abuse regulation (MAR), which is increasingly tied to ESG factors.
In principle, the Directive creates cross border rights for non-EU firms on the condition that they are authorised by ESMA, but only for MIFID II services. The decision is made jointly by ESMA, the commission and the council. Yes, cross-border rights and local treatment for branch operations. Payment Services Directive (PSD II)
Retrieved from "https://en.wikipedia.org/w/index.php?title=MiFIR&oldid=1130842150"This page was last edited on 1 January 2023, at 06:49
An Approved Publication Arrangement (APA) is an entity authorized under the MiFID II directive to publish trade reports on behalf of investment firms, fulfilling requirements outlined in Article (4)(1)(52).
The MiFID II text also includes further demands of buy side firms which will require buyers and sellers to review and revise the research procurement process. [10] The FCA has already issued a statement of “support” for ESMA's new policies for investment research and advising asset management firms to start making changes now to prepare ...