Maijoor: defining Mifid II liquidity is "major task"
Esma lacks derivatives data but will have to measure liquidity for each asset class falling under the scope of Mifid II
The chairman of the European Securities and Markets Authority (Esma), Steven Maijoor, has urged market participants to help the regulator strike the right balance between transparency and liquidity under the new Markets in Financial Instruments Directive, known as Mifid II.
The regime - adopted by the European Parliament on April 15 - introduces public disclosure requirements for the listed and over-the-counter derivatives markets, but these are accompanied by a system of pre-trade disclosure
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