Q&A · ESMA
Maximum authorised deviation around the reference price for negotiated transactions in illiquid equity instruments
Answered
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For the negotiated-transaction waiver for illiquid equity instruments under Article 4(1)(b)(ii) MiFIR, the trading-halt parameters venues set under Article 48(5) MiFID II should serve as the maximum permitted deviation from the reference price; trades outside them should not be allowed under the waiver.
Details
| Reference | ESMA_QA_1566 |
|---|---|
| Issuer | ESMA |
| Published | 15 Nov 2017 |
| Answered | 15 Nov 2017 |
| Submitted | 15 Nov 2017 |
| ESMA topics | Pre-trade transparency waivers |
| Earlier Q&A document | ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 5.5 |
Provisions it relates to
- Article 4 MiFIR · Waivers for equity instrumentsInferred · 90%
- MiFIR (whole act)Explicit reference