Q&A · ESMA
Can a trading venue use its trading systems and platforms to arrange transactions that are then reported and ultimately executed on another trading venue?
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
A trading venue may not arrange transactions on its systems that are then executed and reported on another venue, since a venue's defining feature is executing trades under its own rules; an investment firm operating a venue may, however, arrange trades as an authorised investment service.
Details
| Reference | ESMA_QA_1639 |
|---|---|
| Issuer | ESMA |
| Published | 4 Oct 2018 |
| Answered | 4 Oct 2018 |
| Submitted | 4 Oct 2018 |
| ESMA topics | Multilateral and bilateral systems |
| Earlier Q&A document | ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 5.7 |
Provisions it relates to
- Article 4 MiFID II · DefinitionsInferred · 80%
- MiFID II (whole act)Explicit reference