ESMA’s new Q&A clarify a number of key points on the MTF, OTF and SI regimes.
On 5 April 2017, ESMA published an updated version of its Q&A document on market structures under MiFID II. The final section has been augmented substantially to include new Q&As relating to multilateral and bilateral systems. In particular, these Q&As provide much-awaited key guidance on the parameters for operating an OTF and the SI regime.
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