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Eingabehilfen

Author: Karen Cooper

EU MiFID: ESMA consults on transparency requirements for derivatives

On 3 April 2025, ESMA published a consultation paper on proposals for RTS on transparency for derivatives, package orders and input/output data for the derivatives consolidated tape following the EU MiFID II / MiFIR Review. A major focus of the CP is on post-trade transparency deferrals, where ESMA has proposed (potentially quite granular) static liquidity determinations for in-scope derivatives, as well as specifying transaction size thresholds and setting price / volume deferral periods for each of the different liquidity / transaction size “deferral buckets”.