Monday September 11 2017
News Source: Global Exchanges
Focus: MiFID (Global Exchanges)
Type: General
Country: Bulgaria
Link: http://www.fsc.bg/bg/novini/resheniya-ot-zasedanie-na-kfn-na-08-09-2017-g--8630.html
The Financial Supervisory Commission (FSC) has adopted a decision on compliance with the ESMA Guidelines: Calibration of the Suspension of Trade and Publishing of Suspensions of Trade under MiFID II.
The guidelines clarify the provision of Art. 48, par. 5 of MiFID II which introduces requirements for each regulated market to be able to stop or restrict trading in financial instruments in the event of a significant price movement for a financial instrument on that market or a related market for a short period of time and in exceptional cases to cancel, change or correct a transaction.
According to Art. 18, par. (5) of MiFID II, Member States should require investment firms and market operators operating a multilateral trading facility or an organized trading venue to comply with Article 48 of MiFID II and have all the necessary effective systems, procedures and rules in place The guidelines will be applicable to all trading venues.
ESMA Guidelines: Calibration of the Suspension of Trade and Publication of Suspensions of Trade under MiFID II are published on the FSC website in Bulgarian and English .
A formal announcement on what the FSC has actually decided will be announced in the coming days.
Click on the link above for further information.