Start of application of MIFID/MIFIR amended rules for transparency calculations


On May 31 2023, the European Securities and Markets Authority (ESMA) informed that amended rules for transparency calculations start applying on June 5 2023.

Some of the amendments will have an impact on the transparency calculations for equity, equity-like and non-equity instruments:

  • Change of the pre-trade large in scale (LIS) thresholds for ETFs

  • Quarterly bond liquidity assessment and the systematic internaliser (SI) publication

  • Annual calculation for non-equity instruments – including LIS and size-specific to the instrument thresholds for bonds

  • Annual calculation for equity and equity-like financial instruments