Lack of ESMA Data Fuels Energy Firms’ MiFID Woes
Stella Farrington reports on how a hold-up in data from ESMA is causing havoc for commodity firms that need to perform tests to determine whether they fall under the scope of MiFID II.
In response to lengthy pressure from European commodity trading firms, the European Securities and Markets Authority (ESMA) has now promised to publish data by July that will prove key to determining whether they will have to comply with a sweeping new set of financial regulations.
But any comfort the industry will feel from being able to make progress in its preparations for the reworked Markets in Financial Instruments Directive (MiFID II) may be short-lived: The market size data will be
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