Q&A · ESMA
Organized Trading facilities OTFs
Answered
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Where an SI and an OTF must be run by separate legal entities, the two must prevent information sharing on each other's activities through separate management and operational teams, physical separation and segregated execution systems; some IT infrastructure may be shared, and outsourcing between them is allowed only on a similar basis.
Details
| Reference | ESMA_QA_1648 |
|---|---|
| Issuer | ESMA |
| Published | 3 Apr 2017 |
| Answered | 3 Apr 2017 |
| Submitted | 3 Apr 2017 |
| ESMA topics | Multilateral and bilateral systems |
| Earlier Q&A document | ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 5.16 |
Provisions it relates to
- Article 20 MiFID II · Specific requirements for OTFsInferred · 85%
- MiFID II (whole act)Explicit reference