Main changes in MiFID II

  • What has been the objective of revising MiFID I?

  • What are the main changes from MiFID I?

Ancillary Activity Exemption

  • Do I need to become MiFID II authorised? Do I need to become an investment firm, according to MiFID II?

  • Which transactions count towards the ancillary activity exemption? (updated)

  • As of when can I notify my regulator that I will make use of the ancillary activity exemption? (updated)

Position limits

  • I do not need to become a MiFID II investment firm. Do the position limits apply to me? (updated)

  • Are positions held for hedging purposes exempt from position limits?

  • When and where will the position limits be published? (updated)

  • Who will monitor and manage the position limits?

  • Which contracts at EEX Group are seen as liquid with a bespoke limit? (updated as of 9 January 2018)

Position reporting

(For more information on the EEX Group solutions with regard to position and transaction reporting please access EEX’ website in the section Trading > MiFID II / MIFIR > Reporting.)

  • Who needs to report positions? (updated as of 5 January 2018)

  • Which IT schema will EEX Group use for clients to report positions? (updated as of 5 January 2018)

  • Does the position and transaction reporting scheme apply for Emission allowances as well? (updated)

Other questions

  • Are there special requirements for third-country investment firms that trade at EEX Group?

  • Will EEX Group provide the possibility to flag market making orders?

  • Will EEX Group impose any additional requirements with regard to algorithmic trading? (updated)

  • Will EEX Group accept one-off tests of trading algorithms of ISVs that are used by different members of EEX Group?

  • How will EEX Group fulfil the pre-trade control requirements?

  • Will EEX Group provide ISINs on contract level?

  • The position and transaction reporting obligations pursuant to Article 58 par. 1 MiFID II and Article 26 par. 5 MiFIR do not apply to non-investment firms, why do we have to provide EEX and Powernext with the respective LEIs and NATIONAL_IDs?

  • What is EEX’s solution for uploading short codes? (new)

Data Security (new)

  • Can you confirm that you will only use the personal data (National_ID’s) for the purpose for which it has been transmitted to you, being in order to demonstrate compliance with MIFID II?

  • Can you confirm that you will be employing technical and organisational measures to ensure that the personal data is protected against unauthorised access, processing or destruction?

  • Can you confirm that the personal data will be deleted as soon as its storage is no longer necessary?

  • Shall the personal data be transferred outside the European Economic Area?

  • Which people will have access to the National-ID’s?