Q&A · ESMA

Authorisation as an investment firm under MiFID II to provide DEA to an EU trading venue

Answered

Read the official text on the ESMA website(opens in a new tab)

AI-generated Summary

Only MiFID II investment firms or CRD credit institutions may provide direct electronic access to EU trading venues under Article 48(7) MiFID II, so non-EU firms (even from equivalent jurisdictions) and unlicensed EU firms cannot, wherever their clients are.

Details

Reference	ESMA_QA_1620
Issuer	ESMA
Published	15 Nov 2017
Answered	15 Nov 2017
Submitted	15 Nov 2017
ESMA topics	Direct Electronic Access and algorithmic trading
Earlier Q&A document	ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 3.25

Provisions it relates to

Article 48 MiFID II · Systems resilience, circuit breakers and electronic trading
MiFID II
Inferred · 90%
MiFID II (whole act)
Explicit reference