ESMA Steers Regulators On Policing 'Dark Pool' Trades

Law360, London (July 17, 2020, 12:22 PM BST) -- Europe's securities watchdog set out guidance on Friday to help national regulators enforce exemptions to the bloc's transparency rules, in a move to regulate institutional investors that trade shares away from exchanges in so-called dark pools.

The European Securities and Markets Authority has published guidelines on waiving the data that it requires finance companies to submit to national regulators before they complete a trade, in line with the Market in Financial Instruments Regulation.

The EU rules, known as MiFIR, set out rules on pre-trade transparency for trading venues to ensure that prices are disclosed to the market.

But the regulation also...

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