Q&A · ESMA
Pre-arranged/negotiated transactions for non-equity instruments
Answered
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Negotiated or pre-arranged transactions in non-equity instruments may be formalised on a trading venue under the Article 9(1) MiFIR waivers (LIS, illiquid instruments, EFP and package orders, but not the order management facility waiver); for derivatives subject to the trading obligation only the LIS and package order waivers are available, and venues must monitor such trades for market abuse and disorderly trading.
Details
| Reference | ESMA_QA_1571 |
|---|---|
| Issuer | ESMA |
| Published | 16 Oct 2024 |
| Answered | 12 Jul 2019, 16 Oct 2024 |
| Submitted | 12 Jul 2019 |
| ESMA topics | Pre-trade transparency waivers |
| Earlier Q&A document | ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 5.11 |
Provisions it relates to
- Article 8a MiFIR · Pre-trade transparency requirements for trading venues in respect of derivativesESMA rulebook
- Article 9 MiFIR · Waivers for bonds, structured finance products, emission allowances, derivatives and package ordersESMA rulebook
- MiFIR (whole act)Explicit reference