The European Securities and Markets Authority (ESMA) has published an updated version of its protocol on the operation of its MiFID database. The document contains information on the practical co-operation arrangements between Member States’ national competent authorities (NCAs) and the staff of ESMA for the purposes of managing the calculation and publication of market transparency calculations required under Article 33 of the MiFID Implementing Regulation. The protocol includes information on the following:
- the respective obligations of the NCAs and ESMA staff;
- how NCAs’ questions relating to the operation of the database will be handled;
- how the NCA responsible for the necessary calculations in respect of a share will be determined;
- co-operation between NCAs when new shares are admitted to trading or are to be delisted; and
- how contested determinations will be handled.
View Protocol: operation of the ESMA MiFID database, 14 November 2013