7 Amendments of Esther DE LANGE related to 2021/0385(COD)
Amendment 191 #
Proposal for a regulation
Article 1 – paragraph 2 – point d
Article 1 – paragraph 2 – point d
Regulation (EU) No 600/2014
Article 2 – paragraph 1 – point 36b – point a – point i
Article 2 – paragraph 1 – point 36b – point a – point i
(i) the best bids and offers with corresponding volumes and timestamps, limited to pre-trade transparency data for shares. For auction systems, that also means the price at which the trading algorithm would be best satisfied and the volume potentially executed at that price by participants in that system;
Amendment 271 #
Proposal for a regulation
Article 1 – paragraph 7
Article 1 – paragraph 7
Regulation (EU) No 600/2014
Article 13 – paragraph 3 – first subparagraph
Article 13 – paragraph 3 – first subparagraph
3. ESMA shall develop draft regulatory technical standards to (a) specify what constitutes a reasonable commercial basis, as well as the content, format and terminology of the reasonable commercial basis information that trading venues, APAs, CTPs and systematic internalisers have to make available to the public; and (b) specify the frequency, contact details and format of the information to be provided to the competent authorities and ESMA in accordance with paragraph 3.
Amendment 275 #
Proposal for a regulation
Article 1 – paragraph 7 a (new)
Article 1 – paragraph 7 a (new)
Regulation (EU) No 600/2014
Article 13 – paragraph 3a (new)
Article 13 – paragraph 3a (new)
3a. ESMA shall develop draft regulatory technical standards to identify the cost criteria of producing and disseminating market data resulting from trading activities and specify what constitutes a reasonable margin that market operators and investment firms operating a trading venue, APAs, CTPs and systematic internalisers shall follow to comply with Article 13 (2). ESMA shall regularly monitor the developments in market data costs and the levels of compliance with the rules, and shall regularly update its draft regulatory technical standards in light of the result of its assessment.
Amendment 327 #
Proposal for a regulation
Article 1 – paragraph 10
Article 1 – paragraph 10
Reguation (EU) No 600/2014
Article 22a – paragraph 1 a (new)
Article 22a – paragraph 1 a (new)
1 a. Regulated markets or MTFs whose average daily trading volume of shares represents less than 1 % of the average daily trading volume of the Union shall not be required to provide market data to the CTP;
Amendment 330 #
Proposal for a regulation
Article 1 – paragraph 10
Article 1 – paragraph 10
Regulation (EU) No 600/2014
Article 22a – paragraph 1 b (new)
Article 22a – paragraph 1 b (new)
1 b. Regulated markets whose average daily trading volume of shares exceeds 1% of the average trading volume of the Union and which are not part of a group comprising or having close links with a regulated market that would be above the 1% threshold of the total value of equity value traded within the EU, shall not be required to provide market data to the CTP if the regulated market accounts for more than 85 % of the average daily trading volume of shares that were first admitted to trading on that regulated market;
Amendment 449 #
Proposal for a regulation
Article 1 – paragraph 26
Article 1 – paragraph 26
Regulation (EU) No 600/2014
Article 39 a (new) – title
Article 39 a (new) – title
Article 39a Ban on payment for forwarding client orders for executionor execution of client orders.
Amendment 458 #
Proposal for a regulation
Article 1 – paragraph 26
Article 1 – paragraph 26
Regulation (EU) No 600/2014
Article 39a
Article 39a
1. Investment firms executing orders on behalf of a retail client shall take all necessary steps to obtain the best possible price for their clients, net of costs relating to execution, which shall include all expenses directly related to the execution of the order, including execution venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the order. Investment firms acting on behalf of clients shall not receive or accept any fee or commission or any monetary or non- monetary benefits from any third party for forwarding client orders to such third party for their execution.;paid or provided by any third party or a person acting on behalf of a third party in relation to the forwarding or execution of orders. 1a. The Commission shall adopt a delegated act in accordance with Article 50 by [12 months after the date of entry into force of this amending Regulation] to specify the market practices falling under the provision of the first subparagraph of this Article. The Commission shall regularly update that delegated act to account for the development of new market practices.