Steven Maijoor, Chair, ahead of ESMA’s first major conference, said:

“MIFID II, the last major piece of the post-financial crisis regulatory agenda, will come into effect in less than three months. This, combined with a strengthening economic recovery, financial innovation opportunities, our largest financial centre moving outside the European Union (EU), and Europe’s continued heavy reliance on bank financing, has prompted us to reflect on the State of European Financial Markets today and in the future.

“ESMA is delighted to welcome our distinguished keynote speakers whose insights on current market trends and challenges will inform and drive today’s debate.”

Valdis Dombrovskis, Vice-President of the European Commission, will deliver the keynote address, kicking off a packed agenda. The four panel debates offer a unique forum to address issues critical to European capital markets. Topics include:

• Trading and Market Infrastructures:
• Brexit;
• Investors and Innovation; and
• The Regulatory Agenda Post-2017.

Keynote speakers include: Xavier Rolet, Chief Executive Officer (CEO) of the London Stock Exchange (LSE), Roberto Gualtieri MEP, Chair of the Committee on Economic and Monetary Affairs (ECON), European Parliament and Ashley Alder, Chairman of the International Organization of Securities Commissions (IOSCO) who will provide the closing remarks.

The panel discussions, keynote remarks and interactions among supervisors and financial industry professionals during the conference offers an opportunity to discuss the state of European financial markets in the context of ESMA’s mission and how best to safeguard the stability of the European Union’s financial system in the coming years.

In addition to the 350 participants at the conference venue, the event will be available via live streaming and regular updates will be posted on ESMA’s social media channels. More information is available through twitter (@ESMAComms) or using #ESMA2017.

The advance publication of this data will facilitate markets participants’ preparation of their systems to fulfil future reporting obligations to national competent authorities (NCAs) under MiFIDII/MiFIR. ESMA has also published instructions for market participants on how to access the data and download the relevant machine-readable files.

The requirements of Article 27 of MiFIR and related technical standards oblige trading venues and systematic internalisers to submit reference data, from 3 January, for the relevant financial instruments to national competent authorities (NCAs) who will subsequently transmit it to ESMA for publication. 

The data released today are subject to quality limitations, in particular regarding their completeness. ESMA and the NCAs will continue to monitor and improve the quality and completeness of the published information.

Background

ESMA, in order to allow for a smooth transition to the new MIFID reporting regime, began the first phase of FIRDS in July by collecting financial instrument reference data from reporting entities and today’s release to the market contains the currently available data in advance of MIFIR’s 3 January 2018 go-live date. The availability of this information at this early stage will play an important role in assuring the quality of data that market participants report to NCAs from 3 January 2018 onwards.

In preparation for 3 January 2018, ESMA encourages market participants to begin using the published data following the instructions provided on how to access the data, download the machine-readable files as well as the reporting instructions.

Market participants with database, files or technical instructions related queries should contact support@esma.europa.eu.

The advance publication of this data will facilitate markets participants’ preparation of their systems to fulfil future reporting obligations to national competent authorities (NCAs) under MiFIDII/MiFIR. ESMA has also published instructions for market participants on how to access the data and download the relevant machine-readable files.

The requirements of Article 27 of MiFIR and related technical standards oblige trading venues and systematic internalisers to submit reference data, from 3 January, for the relevant financial instruments to national competent authorities (NCAs) who will subsequently transmit it to ESMA for publication. 

The data released today are subject to quality limitations, in particular regarding their completeness. ESMA and the NCAs will continue to monitor and improve the quality and completeness of the published information.

Background

ESMA, in order to allow for a smooth transition to the new MIFID reporting regime, began the first phase of FIRDS in July by collecting financial instrument reference data from reporting entities and today’s release to the market contains the currently available data in advance of MIFIR’s 3 January 2018 go-live date. The availability of this information at this early stage will play an important role in assuring the quality of data that market participants report to NCAs from 3 January 2018 onwards.

In preparation for 3 January 2018, ESMA encourages market participants to begin using the published data following the instructions provided on how to access the data, download the machine-readable files as well as the reporting instructions.

Market participants with database, files or technical instructions related queries should contact support@esma.europa.eu.

The following joint statement was issued by President Jean-Claude Juncker and Prime Minister Theresa May following their working dinner in Brussels on 16 October 2017:

“The Prime Minister and the President of the European Commission had a broad, constructive exchange on current European and global challenges.

They discussed their common interest in preserving the Iran nuclear deal and their work on strengthening the security of citizens in Europe, notably on the fight against terrorism. They also prepared for the European Council that will take place later this week.

As regards the Article 50 negotiations, both sides agreed that these issues are being discussed in the framework agreed between the EU27 and the United Kingdom, as set out in Article 50 of the Treaty on European Union. The Prime Minister and the President of the European Commission reviewed the progress made in the Article 50 negotiations so far and agreed that these efforts should accelerate over the months to come. The working dinner took place in a constructive and friendly atmosphere.”