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This paper may be of interest to users of credit ratings, credit rating agencies and entities interested in applying to be a registered CRA. This consultation follows on from the updated Guidelines on endorsement (November 2017), and comes in response to requests from the industry. The aim of the proposed supplementary guidance is twofold: […]
ESMA provides market size calculations for MiFID II ancillary test
Under the revised Markets in Financial Instruments Directive (MiFID II) market participants are required to measure their own activity against total market sizes in commodity derivatives. Those market participants exceeding a certain market share are required to apply for an authorisation as an investment firm. ESMA provides indication of market sizes ESMA collected data for […]