The European Securities and Markets Authority (ESMA) has published a consultation paper which seeks views on three draft implementing technical standards (ITS) on which it has not yet consulted:

  • the suspension and removal of financial instruments from trading on a trading venue. These draft ITS cover the timing and format of publications and communications foreseen by MiFID II in case a suspension or removal of an instrument occurs;
  • the notification and provision of information for data reporting services providers (DRSPs). The draft ITS covers both the application for authorisation by DRSP applicants as well as the notification of members of the management body of a DRSP and of any changes to its membership; and
  • the weekly aggregated position reports for commodity derivatives, emission allowances and derivatives thereof. Article 58 of MiFID II requires trading venues to produce and make public, subject to de minimis thresholds, a weekly report of the aggregate positions in commodity derivatives, emission allowances, and derivatives of emission allowances on that trading venue. In the consultation paper ESMA consults on the empowerment under article 58(7) to prepare ITS in relation to sending the weekly position reports to ESMA at a specified time, for their centralised publication by ESMA.

The last section of the consultation paper provides the text of the draft ITS.

The deadline for comments on the consultation paper is 31 October 2015. On the basis of the responses to the consultation paper, ESMA will revise the draft ITS and send a final report to the European Commission for endorsement by 3 January 2016.

View ESMA consults on MiFID II standards regarding trading suspensions, data service providers and derivatives reporting, 31 August 2015