ESMA simplifies MiFID II/ MiFIR obligations on market data

https://www.esma.europa.eu/press-news/esma-news/esma-simplifies-mifid-ii-mifir-obligations-market-data
Success
Service Payment Network System 25% Clearing and Settlement Infrastructures 15%
Specialism Regulatory Reporting 35% Supervision 25%
2026-02-23 14:49:20 · adavies@vixio.com
ID
2899155
GUID
fd32d7cbf380bfa6e324fa0cbd409a98

Classification

Service
Payment Network System (25%)

This update concerns MiFID II/MiFIR market data obligations for investment firms, which falls outside the payments scope of the taxonomy; market data distribution is a capital markets function unrelated to payment processing, clearing, or fund movement.

Clearing and Settlement Infrastructures (15%)

While market data infrastructure could tangentially relate to payment message routing, this update is fundamentally about securities market data transparency rules, not payment network operations or messaging.

Specialism
Regulatory Reporting (35%)

This update concerns MiFID II/MiFIR market data obligations and RTS on reasonable commercial basis for market data providers, which falls outside the payments-specific regulatory taxonomy.

Supervision (25%)

While the withdrawal involves compliance simplification and transition periods, the content is fundamentally about securities market data regulation rather than payment services regulation.

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TITLE: European Securities and Markets Authority Withdraws MiFID II/MiFIR Market Data Guidelines BODY: On 23 February 2026, the European Securities and Markets Authority (ESMA) withdrew its guidelines on the Markets in Financial Instruments Directive II/Markets in Financial Instruments Regulation (MiFID II/MiFIR) obligations on market data, effective immediately. The withdrawal reflects ESMA's commitment to simplifying regulatory requirements and reducing compliance burdens for market participants. The decision aligns the existing framework with the newly applicable regulatory technical standards (RTS) on the obligation to make market data available to the public on a reasonable commercial basis (RTS on RCB). The RTS on RCB entered into force on 23 November 2025. Market data providers authorised before that date benefit from a transition period until 22 August 2026, during which they must align existing contractual arrangements with the new RTS requirements. Market data providers should use the transition period to ensure compliance with the RTS on RCB framework. ESMA encourages stakeholders to raise any issues related to the rules and the application of the RTS on RCB by contacting RCB@esma.europa.eu. The withdrawal of the guidelines simplifies the regulatory landscape for market participants operating across EU financial markets, consolidating obligations under the single RTS framework rather than maintaining parallel guidance documents. REFERENCES: European Securities and Markets Authority. "ESMA simplifies MiFID II/MiFIR obligations on market data." 23 February 2026. https://www.esma.europa.eu/
  • ✓ Scraped:2026-02-23 14:49:20
  • ✓ Created:2026-02-23 14:49:20
  • ✓ By:adavies@vixio.com (41)