The European Securities and Markets Authority (ESMA) has called for further information about the use of periodic auctions, which it suspects are being used to circumvent MiFID II transparency rules. Maijoor has been outspoken about the regulator’s concerns about periodic auctions, which have emerged as a result of MiFID II, following a surge in volumes on the systems launched by the likes of Cboe Global Markets and the London Stock Exchange Group. In a letter sent on Monday to the ESMA chief executive Martin Wheatley, the authority said that while it had received reports from companies in recent months indicating they were using such auctions as part of
The European Securities and Markets Authority (ESMA) has called for further information about the use of periodic auctions, which it suspects are being used to circumvent MiFID II transparency rules. In a letter sent on Monday to the ESMA chief executive Martin Wheatley, the authority said that while it had received reports from companies in recent months indicating they were using such auctions as part of