Q&A · ESMA
Waiver procedure for illiquid non-equity financial instruments
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
The pre-trade waiver for illiquid non-equity instruments under Article 9(1)(c) MiFIR is applied for by venues and granted by asset class (as categorised in Annex III of RTS 2), after an ESMA opinion, not instrument by instrument; all illiquid instruments in that class, including later ones, benefit.
Details
| Reference | ESMA_QA_1563 |
|---|---|
| Issuer | ESMA |
| Published | 16 Oct 2024 |
| Answered | 18 Nov 2016, 16 Oct 2024 |
| Submitted | 18 Nov 2016 |
| ESMA topics | Pre-trade transparency waivers |
| Earlier Q&A document | ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 5.2 |
Provisions it relates to
- Article 9 MiFIR · Waivers for bonds, structured finance products, emission allowances, derivatives and package ordersESMA rulebook
- MiFIR (whole act)Explicit reference