ICMA co-signs joint letter on ESMA's consultation on firms' order execution policies under MiFID II
21 November 2024 ICMA, jointly with AFME, AIMA, EFAMA, EFSA, ISDA and NSA, submitted a joint letter on ESMA’s consultation on firms’ order execution policies under MiFID II to ESMA. Further to the separate responses submitted by the respective trade associations, the joint letter was sent to reinforce the shared position on this matter.
In addition to the three overarching concerns, another point highlighted in the joint letter was that a more proportionate way to address the shortcomings ESMA has observed would be to codify existing available material, such as existing Level 2 rules (which can be found in different legal sources), into the new draft RTS. The Associations asked ESMA for an opportunity to speak with them to better understand the concerns and to contribute to developing more targeted solutions.
View the letter.
