Q&A · ESMA
Partial execution of LIS orders (Article 9(1)(a) of MiFIR) and orders above SSTI
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
The large-in-scale waiver continues to cover an order that was LIS when entered but falls below the threshold after partial execution in the same waived facility, for both equity and non-equity instruments; it ends if the price or other conditions are changed or execution moves to another facility of the venue.
Details
| Reference | ESMA_QA_1567 |
|---|---|
| Issuer | ESMA |
| Published | 16 Oct 2024 |
| Answered | 15 Nov 2017, 16 Oct 2024 |
| Submitted | 15 Nov 2017 |
| ESMA topics | Pre-trade transparency waivers |
| Earlier Q&A document | ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 5.6 |
Provisions it relates to
- Article 9 MiFIR · Waivers for bonds, structured finance products, emission allowances, derivatives and package ordersESMA rulebook
- MiFIR (whole act)Explicit reference