On 19 December 2022, the European Securities and Markets Authority (ESMA) published an opinion on amendments to Commission Delegated Regulation (EU) 2017/587 (RTS 1) and Commission Delegated Regulation (EU) 2017/583 (RTS 2).
ESMA has issued this opinion in response to the European Commission’s (the EC) proposed
amendments to the regulatory technical standards (RTS) regarding equity transparency (RTS 1) and non-equity transparency (RTS 2).The EC’s proposed amendments suggest introducing a new flag in RTS 2, amending the definitions of certain fields in the post-trade transparency reporting, as well as transitional provisions including postponing the application date of certain provisions to 1 January 2024 in both RTS 1 and 2.
ESMA states in the option that its view is that the proposed amendments are appropriate. Therefore, the draft RTS regarding equity transparency (RTS 1) and non-equity transparency (RTS 2) have been amended by ESMA as proposed by the EC.
The opinion is submitted officially to the EC who will have three months to endorse the reviewed RTS. A second review of RTS 1 and RTS 2 is planned after the end of the on-going dialogue on the MiFIR review by co-legislators.