On July 28, the European Securities and Markets Authority (ESMA) published an updated version of its opinion on determining third-country trading venues (TCTVs) for the purpose of post-trade transparency under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) (the Opinion).

ESMA previously updated the Opinion on June 3, (for more information, see the June 5, 2020 edition of Corporate & Financial Weekly Digest) and subsequently received a number of requests from market participants to assess additional trading venues against the transparency criteria. As a result, ESMA published the following:

  1. an updated annex to the Opinion, which includes TCTVs that have now received a positive or partially positive assessment (the Annex); and
  2. additional guidance on the implementation of the list of TCTVs (the Guidance).

The Opinion is available here.

The Annex is available here.

The Guidance is available here.