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Jan 1, 2024 · Euronext Paris is a "regulated market" within the meaning of the Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II) and the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR).
- MiFID II Explained in Simple Terms
- How Does MiFID II Affect Corporate Access?
- The Change in The Corporate Access Model After MiFID II
- How Can Iros Obtain Corporate Access Under MiFID II?
- FAQ
MiFID II is an amendment to the Markets in Financial Instruments Directivein the European Union. It sought to protect investors and help the financial markets run in a more efficient and transparent manner. MiFID II implemented a series of new requirements and tests for issuers, along with regulations on product governance and independent investmen...
The big change in terms of corporate access is that investment companies cannot pay brokers from trading commissions for the work they put into connecting them with issuers. These costs must be taken from the fund’s profit and loss statement instead. This requires an additional budget and means that investment firms have to be able to prove to thei...
The IR Societydiscovered that 90% of investors used corporate access provided by the sell-side before the implementation of MiFID II. In addition, only 38% on the buy-side said that they relied on companies contacting them directly. Following MiFID II, 54% said they would be more reliant on companies approaching them and 52% will reduce their use o...
IROs have to be agile when arranging corporate access. If you are working with brokers, you need to ascertain which of your investors or potential investors they have an existing relationship with. If you no longer use brokers, you need to maintain your engagement policies and expect direct meeting requests. This will require additional resources i...
What are inducements under MiFID II?
Inducements are generally incentives offered in the process of recommending investment services. Benefits provided by third parties, such as ‘free’ corporate access services, can be construed as inducements.
Does MiFID II apply to US firms?
MiFID II does not necessarily apply to US firms, as it is an EU directive. It is also enshrined in UK law and regulated by the Financial Conduct Authority (FCA), having been implemented before Brexit. However, when US firms do business in countries that come under the scope of MiFID II, they have to comply with its requirements relating to investment decisions. Many US firms already adhere to the directive in order to prevent compliance issues across their global business.
- Description
Euronext operates the following Multilateral Trading Facilities (MTFs) pursuant to MiFID II and that have their own dedicated Rules: Euronext Growth operated by Euronext Brussels, Euronext Dublin, Euronext Lisbon, Oslo Børs and Euronext Paris and governed by Euronext Growth Markets Rule Book;
May 23, 2022 · Euronext falls under the "Regulated Markets" jurisdiction under the Markets in Financial Instruments Directive II (MiFID II) and has to adhere to all of the rules and regulations...
Sep 19, 2021 · By deploying the MiFID II requirements on the legacy cash environment in 2017, Euronext has ensured that MiFID II conformity for Euronext Cash Markets will no longer be dependent on the release of the new Optiq trading platform.
Dec 14, 2017 · Euronext has been given the green light to provide approved publication arrangement (APA) and approved reporting mechanism (ARM) functions ahead of MiFID II. The French regulator Autorité des Marchés Financiers (AMF) handed Euronext the approval.
People also ask
Does Euronext comply with MiFID II?
Does Euronext offer a regulated trade publication service?
When will Euronext's tick sizes change to the MiFID II requirements?
Does MiFID II apply to US firms?
Who can use Euronext?
What is MiFID II?
Euronext’s APA/ARM Services allows Investment Firms to meet MiFID II requirements via a single interface, covering both cash and derivatives products. Market participants are able to subscribe to one or several services through Euronext’s Trade Publication and Transaction Reporting tool.
