Q&A · ESMA
Compliance with the SI regime and notification to NCAs
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
A systematic internaliser's notification to its competent authority should list, at least by MiFIR identifier (RTS 1 and RTS 2), the instruments or classes in which it is an SI; the obligation lasts three months after the thresholds are crossed at each quarterly assessment, and the firm must notify a change of status but not an unchanged status.
Details
| Reference | ESMA_QA_1581 |
|---|---|
| Issuer | ESMA |
| Published | 10 Oct 2025 |
| Answered | 10 Oct 2025 |
| Submitted | 3 Jun 2019 |
| ESMA topics | Systematic internaliser regime |
| Earlier Q&A document | ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 7.6 |
Provisions it relates to
- Article 15 MiFIR · Execution of client ordersESMA rulebook
- MiFIR (whole act)Explicit reference