ESMA clarifies MiFIR quoting obligations for systematic internalisers

MiFID Firms

Date: 29 March 2018

On 26th March 2018, the European Securities and Markets Authority (ESMA) published its final report on proposed amendments to the Commission Delegated Regulation (EU) 2017/587 (RTS 1).

RTS 1 further details the transparency requirements for equity instruments, including the quoting obligations for Systematic Internalisers (SIs) under the Markets in Financial Instruments Regulation (MiFIR). In proposing to amend RTS 1, ESMA is aiming to level the playing field between trading venues and SIs and contribute to an efficient price discovery mechanism.

ESMA has sent its proposal to amend RTS 1 for endorsement to the European Commission.