ESMA Clarifies OTC Derivative Transparency and EU Tick-Size Rules

The European Securities and Markets Authority (ESMA), the EU’s securities regulator and supervisor, updated its transparency manual Oct. 15, clarifying which OTC derivatives fall under transparency rules and how supervisors apply the EU tick-size regime. The manual explains how to provide reference data used to identify OTC derivatives for transparency reporting. The aim is to make information submitted to and published through the consolidated tape more consistent. The update also incorporates published question-and-answer guidance on the tick-size regime and adds recommendations for applying it. Those recommendations describe specific circumstances in which trading venues and national competent authorities may intervene.

Source: TokenPost