MiFID2/R: ESMA updates Q&A on market structures topics
| Clifford Chance
The European Securities and Markets Authority (ESMA) has updated its question and answers (Q&A) document on market structures topics under MiFID2 and MiFIR.
The updated Q&A document answers questions on:
- the timing and procedure of notifications for temporary opt-out under Article 36(5) MiFIR;
- exemptions under Article 36(5) and Article 54(2) of MiFIR;
- the timing of applications for transitional arrangements under Article 54(2) of MiFIR; and
- limitations of access rights following exemption under Article 36(5) of MiFIR.