Waivers and deferrals in connection with pre- and post-trade transparency

Following a public hearing, the Danish Financial Supervisory Authority has decided which waivers and deferrals will apply as from 2018 in respect of publication of order and trade information.

Contact

Director

Anders Balling
33 55 83 64
akb@ftnet.dk

The EU Regulation on Markets in Financial Instruments (MiFIR) enables the national competent authorities to grant certain waivers and deferrals in respect of the requirements for publication of order and trade information for non-equity instruments.

The Danish FSA has now published a memorandum on the waivers and deferrals granted. This indicates that for certain financial instruments it will be possible to allow waivers in respect of certain orders from the publication requirements and to allow deferral of publication of information about certain trades.

A market operator must apply to the FSA for a waiver from the publication requirements. The FSA will consider the application based on whether the criteria for the waivers decided have been met. However, the approval will not be final until the European Securities and Markets Authority (ESMA) has stated that the formal requirements have been met.

Please find the memorandum here.