Articles tagged with: Market Data

RTS 1: Equity and Equity Like Transparency

MiFID II prescribes a series of refinements to transparency in equity and equity like instruments. In many cases it either adapts existing concepts (for example, reducing the maximum time that a trade must be published within) or introduces new concepts such as Approved Publication Arrangements (APAs).

Read More

RTS 2: Non Equity Transparency

MiFID II introduces comprehensive pre- and post-trade transparency obligations for a wide range of asset classes outside of equity and equity like instruments. Collectively, the new asset classes in scope for transparency are known as "non-equity instruments". Details of transactions must be published, with some deferrals permitted, and firms that are classified as Systematic Internalisers must publish quotes.

Read More

RTS 13: Organisational Requirements for Data Service Reporting Providers

Bats currently operates a Trade Data Monitor (TDM) and is on the official list maintained by the FCA. Under MiFID II, Bats intends to operate an Approved Publication Arrangement (APA) under our Recognised Investment Exchange status.

Read More

RTS 14: Data Disaggregation

MIFID I, introduced the concept of "reasonable commercial basis" in relation to the provision and sale of market data. Furthermore, MiFID II requires that all trading venues provide pre-trade and post-trade data in an 'unbundled' fashion. Venues will be required to disaggregate their data by the criteria documented in RTS 14.

Read More