Memo #
28818

Draft ICI Global Response to ESMA's Addendum Consultation Paper on Certain Derivatives for Implementation of MiFID II/MiFIR - Member Feedback Requested by Wednesday, March 18
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[28818]

March 12, 2015

TO: DERIVATIVES MARKETS ADVISORY COMMITTEE No. 15-15
INTERNATIONAL COMMITTEE No. 13-15
ICI GLOBAL MEMBERS No. 13-15
ICI GLOBAL TRADING & MARKETS COMMITTEE No. 11-15 RE: DRAFT ICI GLOBAL RESPONSE TO ESMA'S ADDENDUM CONSULTATION PAPER ON CERTAIN DERIVATIVES FOR IMPLEMENTATION OF MIFID II/MIFIR -  MEMBER FEEDBACK REQUESTED BY WEDNESDAY, MARCH 18

 

On February 20, the European Securities and Markets Authority (“ESMA”) issued an addendum consultation paper on draft regulatory technical standards (“RTS”) for the implementation of the revised Markets in Financial Instruments Directive (“MiFID II”) and Regulation (“MiFIR”). [1] The Consultation Paper covers the sets of derivatives that were not covered by the consultation issued in December 2014 – (1) FX derivatives, (2) credit derivatives, (3) other derivatives, and (4) contracts for difference. [2]

We have prepared the attached responses to ESMA’s Consultation Paper.  If you have any comments on the draft responses, please provide them to Jennifer Choi at jennifer.choi@ici.org.  We are requesting member comments by Wednesday, March 18.

 

Jennifer S. Choi
Associate General Counsel

Attachment

endnotes

[1] Addendum Consultation paper, MiFID II/MiFIR, available at http://www.esma.europa.eu/content/Addendum-Consultation-Paper-MiFID-IIMiFIR (“Consultation Paper”). For a summary of the Consultation Paper, see ICI Memorandum No. 28766 (Feb. 25, 2015), available at http://www.ici.org/iciglobal/pubs/memos/memo28766.

[2] Consultation Paper, MiFID II/MiFIR, available at http://www.esma.europa.eu/system/files/2014-1570_cp_mifid_ii.pdf (“December Consultation Paper”); Consultation Paper – Annex B, Regulatory technical standards on MiFID II/MiFIR, available at http://www.esma.europa.eu/system/files/2014-1570_cp_mifid_ii_part_2.pdf. For a summary of the December Consultation Paper, see ICI Memorandum No. 28651 (Jan. 8, 2015), available at http://www.ici.org/iciglobal/pubs/memos/memo28651. ICI Global’s responses to the December Consultation Paper is available at http://www.ici.org/iciglobal/pubs/memos/memo28789.