Article 51(1) of MiFID II requires a regulated market to have clear and transparent rules regarding the admission of financial instruments to trading. Those rules must ensure that any instruments admitted to trading are capable of being traded in a fair, orderly and efficient manner and, in case of transferable securities, are freely negotiable.
Under Article 51(3) of MIFID II the regulated market must establish and maintain effective arrangements to verify that issuers of transferable securities that are admitted to trading on the regulated market comply with their obligations under EU law in respect of initial, ongoing or ad hoc disclosure obligations. They must establish arrangements which facilitate its members or participants in obtaining access to information which has been made public under EU law.
The European Commission (the Commission) has now published a Delegated Regulation supplementing MiFID II with regard to regulatory technical standards (RTS) for the admission of financial instruments to trading on regulated markets.
The Delegated Regulation will enter into force 20 days after its publication in the Official Journal of the European Union and will apply from the date that appears in the second subparagraph of Article 93(1) of MiFID II.
24 May 2016
