Tuesday October 11 2016

News Source: Global Exchanges

Focus: MiFID (Global Exchanges)

Type: General




On the 6th October 2016, The European Securities and Markets Authority (ESMA) issued a public consultation regarding draft guidelines on trading halts under the Markets in Financial Instruments Directive (MiFID II). MiFID II provides that “Member States shall require a regulated market to be able to temporarily halt or constrain trading if there is a significant price movement in a financial instrument on that market or a related market during a short period and, in exceptional cases, to be able to cancel, vary or correct any transaction”.

The proposed Guidelines aim to provide guidance on:

  • the calibration of trading halts ;
  • the dissemination of information regarding the activation of mechanisms to manage volatility on a specific trading venue; and
  • the procedure and format to submit the reports on trading halts’ parameters from National Competent Authorities (NCAs) to ESMA.

ESMA will consider the responses received to this consultation paper with a view to finalising the Guidelines and publishing a final report in Q1 2017.

Click on the link above for further details