On 2 October 2019, the European Securities and Markets Authority (ESMA) published updated versions of its Q&As on market structures topics and transparency topics under MiFID II and MIFIR.

The updated Q&As on market structures topics amends question 11 within section 4 – The tick size regime to clarify how to interpret the application of the tick size regime to periodic auctions.

The updated Q&As on transparency topics amends question 5 within section 3 – Equity transparency to clarify that for exchange traded funds there is only one average daily turnover band from which to choose the highest threshold to be used to calculate the average value of transactions.