About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

ESMA Proposes Amendments to MiFIR Transparency Requirements

Subscribe to our newsletter

The European Securities and Markets Authority (ESMA) has proposed targeted amendments to some of its Regulatory Technical Standards, essentially RTS 1 and RTS 2, which specify Markets in Financial Instruments Regulation (MiFIR) transparency requirements for equity and non-equity. The amendments aim to clarify, improve and simplify the transparency regime for equity and non-equity instruments.

The ESMA review on RTS 1 and RTS 2 will be made in two steps:

  • The final reports on the review of RTS 1 (equity transparency) and RTS 2 (non-equity transparency), published on 28 March 2022, include a first series of proposed amendments to address issues that have received broad support from stakeholders and/or are considered important in the context of establishing a consolidated tape provider (CTP)
  • A second, and broader, review will be carried out following the MiFIR review, which is currently under discussion. It will be focusing on necessary changes to RTS 1 and RTS 2 as a consequence of the MiFIR review and also including the analysis of proposals included in the Consultation Paper published in July 2021.

The reports have been submitted to the European Commission, which has three months to decide whether to endorse the proposed amendments to the RTS.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Detecting and preventing market abuse

Market abuse – unlawful disclosure of inside information, insider trading, circular trading, “pump and dump” schemes, etc. – poses significant threats to the integrity of capital markets. In 2024, global trading house Trafigura agreed to pay a $55 million fine to the U.S. Commodity Futures Trading Commission (CFTC) for trading with non-public information, manipulating a...

BLOG

ACA Insights from FCA 2024 STORS Report (Insider Dealing Dominates)

In March, the UK Financial Conduct Authority (FCA) published its annual breakdown of suspicious transaction and order reports (STORs) filed during 2024. The headline figure – 4,528 STORs received – reflects continued vigilance in monitoring for potential market abuse. While the volume remains largely consistent with previous years, the detailed breakdown offers valuable insights for...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...