ESMA has recently provided a number of updates to its frequently asked questions as well as a press release in relation to the transitional transparency calculations (“TTCs“) which are relevant to MiFid II and MiFIR. The TTCs are required for equity and bond instruments under the aforementioned regulations.

ESMA has referred market participants to these updated FAQs, noting that the updates generally relate to the classification of instruments, whilst also including amendments and updates to some of the data referenced within the FAQs.