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MiFID II and MiFIR documents published in the Official Journal

Many of the Technical Standards around MiFID II and MiFIR have now been published in the Official Journal of the European Union, effectively completing the legislative process. These include RTS 20, which specifies the details of the Ancillary Activity test,  published here as Commission Delegated  Regulation (EU) 2017/592, and RTS 21, which specifies how Position Limits are calculated, published here as Commission Delegated  Regulation (EU) 2017/591. A full list can be found here on the Orrick blog.

Further information on how any of the rules operate will now be published as Questions and Answers. ESMA have released several over the last few days, including an updated Q+A on data reporting which can be found here. An updated Q+A on commodity derivatives is expected shortly (see here for details of the previous Q+A).

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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