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Q&A · ESMA

Compliance with the SI regime and notification to NCAs

Answered
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AI-generated Summary

A systematic internaliser's notification to its competent authority should list, at least by MiFIR identifier (RTS 1 and RTS 2), the instruments or classes in which it is an SI; the obligation lasts three months after the thresholds are crossed at each quarterly assessment, and the firm must notify a change of status but not an unchanged status.

Details

ReferenceESMA_QA_1581
IssuerESMA
Published10 Oct 2025
Answered10 Oct 2025
Submitted3 Jun 2019
ESMA topicsSystematic internaliser regime
Earlier Q&A documentESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 7.6