MiFIR trading obligation

The BSA responded to ESMA's consultation on the implementation of the trading obligation under MiFIR.

The BSA supports ESMA's proposals to align the phasing in of the MiFIR  trading obligation with the application dates for the EMIR clearing obligation. We also point out that the proposed exemption for very small financial counterparties from the clearing obligation (under the EMIR Review) should logically be mirrored for the trading obligation. Read the full response here.