ESMA sets out RCB draft standards in MiFID II

By Rob McGlinchey
22 May 2014

The European Securities and Markets Authority has floated a number of options in determining reasonable commercial basis within MiFID II, including having data suppliers’ price lists subject to full transparency and imposing specific high-level limits whereby market data services, as a proportion of total revenues, would not exceed a certain percentage.

Reasonable commercial basis relates the provision of data in accordance with several articles of MiFID II, and arose after the European Commission highlighted the issue in a MiFID consultation in 2010 arguing that prices for trading data in the EU were higher than those in the ...

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