ESMA Priorities For Transparency


On May 12, ESMA Verena Ross gave keynote speech at ISDA AGM.


  • Verena Ross gave keynote speech on ESMA's priorities for transparency at ISDA AGM.
  • Follows EU ESMA Apr. 2022, Verena Ross spoke at ECMI/CEPS webinar, see #135692.
  • Follows ISDA May, 2022, Scott O’Malia opening remarks at the AGM, see #137469.
  • Main Points
  • 3 areas where transparency can improve market functioning: non-equity transparency MiFIR regime with derivatives focus; new technologies; the EU carbon market.
  • Recommends streamlining article 18 MiFIR, non-equity instrument quoting obligation.
  • Digitalization can standardize reporting, cut misinterpretation, improve data quality.
  • New technologies are also key to authorities’ better use of reported data, its own new include new big data platform for transaction data, and will also be involved in ESAP.
  • Commodities market transparency needs to be broadened, as highlighted in its final report on emission allowances and derivatives on emission allowances.
  • Recommends better weekly position reports by improving counterparty classification.
  • Also monitoring commodities markets volatility following Russia’s invasion of Ukraine.

Regulators EU ESMA
Entity Types B/D; Bank; Corp
Reference Sp, ESMA70-445-372, 5/12/2022; ESG; Fintech; MIFID/MIFIR Dir 2014/65, Reg 600/2014
Functions Compliance; Financial; Reporting; Risk; Technology; Trade Reporting; Treasury
Countries European Union
Category
State
Products Banking; Corporate; Derivatives; Securities
Regions EMEA
Rule Type Guidance
Rule Date 5/12/2022
Effective Date 5/12/2022
Rule Id 137669
Linked to
Reg. Last Update 5/12/2022
Report Section EU

Last substantive update on 05/13/2022