The EU Commission recently adopted Delegated Regulations supplementing MiFiD II on specifying information to be notified by investment firms, market operators and credit institutions; the level of accuracy of business clocks; the volume cap mechanism, effects of derivative contracts and the prevention of evasion; standards relating to data reporting service providers and on requirements on market making agreements and schemes. Delegated Regulations supplementing MiFIR relating to the obligation to clear derivatives, benchmarks, clearing access in respect of trading venues, the specification of the offering of pre- and post-trade data and on the maintenance of relevant data have also been adopted. Once published in the Official Journal of the EU, the Regulatory Technical Standards will apply from the date of their implementation as included in MiFID II and MiFIR respectively.
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