Amendments to the Markets in Financial Instruments Regulation (MiFIR)
TA-9-2024-0004 · P9_TA(2024)0004 · PE731.644
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Parliament's position on a regulation amending Regulation (EU) No 600/2014 (MiFIR) to improve market data transparency, remove obstacles to consolidated tapes, optimise trading obligations and ban payment for order flow.¶¶ It requires trading venues and investment firms to make market data publicly available and to contribute data to consolidated tape providers. It bans receiving payments for forwarding client orders and sets conditions for the trading obligation for derivatives and shares. The text corresponds to the final legislative act, Regulation (EU) 2024/791, after agreement between Parliament and Council.¶
Key points
- Parliament adopts its first-reading position on the Commission proposal to amend Regulation (EU) No 600/2014.¶¶
- The amended regulation aims to enhance market data transparency and remove obstacles to the emergence of consolidated tapes.¶
- It optimises the trading obligations and prohibits receiving payments for forwarding client orders.
- It requires trading venues and investment firms to make market data publicly available and to contribute data to consolidated tape providers.
- It bans receiving payments for forwarding client orders.
- It sets conditions for the trading obligation for derivatives and shares.
- Parliament calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal.¶
- The position corresponds to the final legislative act, Regulation (EU) 2024/791, after agreement between Parliament and Council.¶
Who is affected
- Trading venues and investment firms, which must make market data public and contribute to consolidated tapes.¶
- Investment firms, which are banned from receiving payments for forwarding client orders.
- Market participants in derivatives and shares, which face conditions on trading obligations.
Legal basis: Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union.¶