On 9 November 2018, the European Securities and Markets Authority (ESMA) issued a call for evidence on periodic auctions for equity instruments.  The call for evidence aims to gather relevant information to inform ESMA in developing its understanding of frequent batch auction trading systems, to assess whether and to which extent these systems can be used to circumvent the MiFID II transparency requirements and, should this be the case, to develop appropriate policy measures. The deadline for providing feedback on the call for evidence is 11 January 2019.