On 29 May 2020, the European Securities and Markets Authority (ESMA) updated its Q&As on market structures and transparency issues under MiFID II / MiFIR.
The updated Q&As provide clarification on the following topics:
- the default liquidity status, SSTI and LIS thresholds of non-equity instruments;
- the publication of transactions in an aggregated form;
- the conversion of LIS/SSTI thresholds in lots (amendments to an existing ESMA Q&A); and
- multilateral systems facilitating the execution of repurchase agreement (repo) transactions.