ESMA: No delay for trading obligation
The European Securities and Markets Authority (ESMA) on Monday said that it would not extend the trading obligation deadline for certain counterparties under the Markets in Financial Instruments Regulation (MiFIR).
The trading obligation will make counterparties shift OTC derivatives trading to exchanges, should the derivatives in question meet certain requirements, including a liquidity test.ESMA cited “political expectation” and the “significant” time that market participants still have to comply with the legislation as reasons for refusing to extend the ...
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