ESMA updates MiFID II Q&A on market structure issues

MiFID Firms

Date: 20 November 2017

On 15 November 2017, the European Securities and Markets Authority (ESMA) updated its Questions and Answers (Q&As) regarding market structure issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).


The purpose of these Q&As is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR. They provides responses to questions posed by the general public and market participants in relation to the practical application of market structure issues. This update includes new answers regarding:


  • Tick size regime;
  • Direct Electronic Access (DEA); and
  • Multilateral systems;