EUROPE: ESMA issues guidelines on market-making and primary dealer exemptions

Monday February 4 2013

The European Securities and Markets Authority (ESMA) has published its final Guidelines and a Feedback Statement on the Exemption for market making activities and primary market operations under the Short Selling Regulation. The Guidelines are aimed at providing market participants and national supervisors with clarity on the criteria to be met to benefit from a market making exemption, and the conditions to be used in assessing the notifications.

These Guidelines will support the creation of a level-playing field, consistency of market practices and convergence of supervisory practices amongst national securities market regulators across the EU.

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