Oct. 29, 2020
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has updated the list it maintains of third-country trading venues in the context of the opinions on post-trade transparency and position limits under MiFID II and MiFIR. Both IPSX Prime and IPSX Wholesale received a positive assessment and are included in the list of trading venues in relation to post-trade transparency.
This means that if an EU investment firm enters into a transaction in a security admitted to either IPSX venue, that firm will not have to publish those trades on an EU APA (Approved Publication Arrangement). This will reduce the cost and administration that an EU investment firm will incur if entering into trades in stocks admitted to either IPSX Prime or Wholesale.
Alan Ramsay, Chief Executive at IPSX UK said: “The publication of the ESMA third-country list is very good news for IPSX as it means brokers across the EU can trade in IPSX securities with no additional requirement to produce a post-trade report. This will reduce costs and make it easier for trades to be actioned on both of our markets. This will help encourage European investors to invest in IPSX securities post BREXIT and we welcome the publication of the ESMA list.”
IPSX Wholesale is a market exclusively for institutional and professional investors.