Q&A · ESMA

Multilateral and bilateral systems - Authorisation as trading venue for a system facilitating the multilateral interaction of trading interests in securities financing transactions

Answered

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AI-generated Summary

ESMA treats securities financing transactions involving financial instruments as transactions in financial instruments here, so a system bringing together multiple third-party trading interests in such transactions must be authorised as a trading venue.

Details

Reference	ESMA_QA_1496
Issuer	ESMA
Published	29 May 2020
Answered	29 May 2020
Submitted	29 May 2020
ESMA topics	Multilateral and bilateral systems
Earlier Q&A document	ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 5.9b

Provisions it relates to

Article 1 MiFID II · Scope
MiFID II
Inferred · 80%
Article 4 MiFID II · Definitions
MiFID II
Inferred · 70%
MiFID II (whole act)
Explicit reference