The Presidency has published new compromise texts, dated 3 December, for the revised Markets in Financial Instruments Directive (MiFID 2) and Regulation (MiFIR). The granting of waivers from pre-trade transparency obligations under MiFIR has been amended. MiFID 2 now contains an additional exemption from its scope for energy transmission system operators, and the optional exemptions under article 3 have also been amended. Most importantly, the new MiFID 2 compromise text has deleted the circumstances under which an Organised Trading Facility (OTF) could surmount the ban on executing client orders against the proprietary capital of the investment firm or market operator running it. (Source: Compromise Text for MiFID 2 and Compromise Text for MiFIR)