The European Securities and Markets Authority (ESMA) has published MiFID II / MiFIR transitional transparency calculations (TTC) for equity and bond instruments. The publication means that TTC for all asset classes, applicable from 3 January 2018, are now available to market participants, infrastructures and authorities as required under the new regulatory framework.

Steven Maijoor, Chair of ESMA, said:

“Today’s publication of the TTCs for bonds and equity completes the provision of data needed, by financial market participants and their supervisors, for the implementation of one of the key elements of the MiFID / MiFIR reforms, more transparent securities markets.”

The TTC will be applicable starting 3 January 2018 and the equity instruments TTC will apply until 31 March 2019 and for bond instruments (liquidity assessment) until 15 May 2018.

View ESMA publishes key transparency calculations for MiFID II / MiFIR implementation, 6 December 2017