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ESMA Opinion clarifies application of pre-trade transparency and price determination in frequent batch auctions
ESMA’s Opinion aims to provide sufficient clarification regarding the application of the pre-trade transparency requirements by FBA systems and the price determination process of FBA systems, ensuring consistent application throughout the EU. Application of pre-trade transparency by FBA systems ESMA considers that trading venues operating FBA systems initiating auction calls based on the first incoming […]
ESMA highlights further aspects to consider in the finalisation of the framework for third-country CCPs
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published a letter that has just been sent to the European Commission (EC) as a contribution to the EC consultation on the delegated acts on tiering, comparable compliance and fees related to third-country central counterparties (TC-CCPs) under the revised European Market Infrastructure […]
ESMA registers Inbonis SA as credit rating agency
Inbonis SA is based in Madrid, Spain, and intends to issue corporate ratings on corporate issuers not considered a financial institution or insurance undertaking. The registration takes effect from today, 27 May 2019. The CRA Regulation seeks to ensure that credit ratings issued in the EU meet minimum standards of quality, transparency and independence by […]