On 5 February 2019, ESMA published a statement on the use of UK data in ESMA databases and the performance of MiFID II calculations under a no-deal Brexit.
ESMA’s statement aims to set out its approach it will take on all ESMA IT applications and databases. The statement sets out details on the following calculations under a no-deal Brexit:
- Reference data;
- Relevant Competent Authority (“RCA”);
- Annual transparency calculations for equity instruments;
- Transparency calculations for non-equity instruments (Quarterly liquidity determination for bonds & Annual transparency calculations for bonds (LIS, SSTI) and for all non-equity instruments other than bonds (liquidity status, LIS, SSTI));
- Calculations for systematic internalisers (SI) determination;
- Double Volume Cap; and
- Ancillary Activity calculations.
