Q&A · ESMA
Scope of the trading obligation for shares
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
Where orders in shares pass through a chain of firms, every EU investment firm in the chain, whether originating or broking, must ensure the final execution complies with the share trading obligation in Article 23(1) MiFIR, even if a non-EEA firm executes.
Details
| Reference | ESMA_QA_1557 |
|---|---|
| Issuer | ESMA |
| Published | 15 Nov 2017 |
| Answered | 15 Nov 2017 |
| Submitted | 15 Nov 2017 |
| ESMA topics | Equity transparency |
| Earlier Q&A document | ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 3.2 |
Provisions it relates to
- Article 23 MiFIR · Trading obligation for investment firmsInferred · 95%
- MiFIR (whole act)Explicit reference