Q&A · ESMA
Organized Trading facilities OTFs
Answered
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An investment firm operating an OTF may arrange strategies that include an equity leg, but the equity (or look-alike equity) leg cannot be executed on the OTF, which may trade only non-equity instruments; the OTF reports only the legs concluded on its system.
Details
| Reference | ESMA_QA_1657 |
|---|---|
| Issuer | ESMA |
| Published | 29 May 2018 |
| Answered | 29 May 2018 |
| Submitted | 29 May 2018 |
| ESMA topics | Multilateral and bilateral systems |
| Earlier Q&A document | ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 5.25 |
Provisions it relates to
- Article 4 MiFID II · DefinitionsInferred · 80%
- Article 20 MiFID II · Specific requirements for OTFsInferred · 70%
- MiFID II (whole act)Explicit reference