ICMA co-signs joint trade association briefing paper on MiFIR post trade transparency (PTT) proposals in European Commission MISP
7 April 2026 ICMA, jointly with the International Swaps and Derivatives Association (ISDA), the Association for Financial Markets in Europe (AFME) and the European Banking Federation (EBF), co-signed a briefing paper in relation to the MiFIR post-trade transparency (PTT) proposals included in the European Commission’s (EC) Market Integration and Supervision Package (MISP). The briefing paper supports the EC’s proposal to disapply PTT requirements under MIFIR for over-the-counter (OTC) derivatives concluded on certain third-country trading venues, in line with the July 2020 ESMA Opinion on ‘Determining third country trading venues for the purpose of transparency under MiFID II/MiFIR’, but it asks the EC and co-legislators to be more ambitious by extending the scope of the proposal to the other asset classes that benefit from the exemption under ESMA’s Opinion, and to also apply to transactions executed away from trading venues and made public on suitably qualified third-country Approved Publication Arrangements (APAs). Further details can be found in the briefing paper here.
