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Markets in Financial Instruments Directive 2014 (2014/65/EU, commonly known as MiFID 2), [1] is a directive of the European Union (EU). Together with Regulation No 600/2014 it provides a legal framework for securities markets, investment intermediaries, in addition to trading venues.
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).
Stock market equivalence is granted by the European Union to those countries whose stock markets are deemed to be 'equivalent' to those of the EU countries. On 3 January 2018, the EU implemented the "Markets in Financial Instruments Directive II" (colloquially known as "MiFID II") which required all European investment firms & traders to trade the shares of a company listed in the EU on a ...
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.
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.
Non-financial reporting – Directive 2013/34/EU, concerning disclosure of non-financial and diversity information by certain large undertakings and groups, [13] also known as NFRD, [14] was amended by Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014. [15]
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)
The Article 4(1)(20) of Directive 2014/65/EU (MiFID II) considers "investment firms dealing on own account when executing client orders over the counter (OTC) on an organised, frequent, systematic and substantial basis" systematic internaliser and requires them to report their trades. [2]