MiFID II Q&A updates – an early Christmas present from ESMA

ESMA has, this week, published updates to three of their Q&As on MiFID II which you need to be aware of for your MiFID II programmes as we approach go-live. 

For transaction reporting, the latest update reiterates how you determine reportability for some specific instruments. 

We believe that key amongst these is ESMA’s confirmation that units in collective undertakings and ETFs need only be assessed on the instrument itself and not on their underlying holdings. This point has been outstanding since the original data reporting consultation paper. 

There are also other updates to Q&As including transparency topics and Market structure topics.