FCA approach to MiFID Transparency calculations

The FCA has released a statement in response to the ESMA statement concerning the use of UK data in ESMA databases and the performance of MiFID II calculations in the EU 27 if the UK leaves the EU without a withdrawal agreement. The FCA has confirmed that in such a scenario, it will no longer send UK trading data to ESMA.

The FCA has said that by the end of February it expects to set out its approach to using its temporary powers to operate MiFID II in the UK.