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  2. Post-trade transparency obligations to make available the price, volume and time of transactions will also be extended to all trading venues and the same range of financial instruments, subject to deferral of disclosure for transactions that are large in scale compared to normal market size (block trades) if authorised by the competent authority.
    nortonrosefulbright.com/en/knowledge/publications…
    What is Post-Trade Reporting? Articles 14–23 of MiFIR outline the transparency requirements and obligations for investment firms across asset classes as defined in Regulatory Technical Standards (RTS) 1 and 2. These include: Near to real-time reporting to the market via FIX (Financial Information eXchange)
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    What is post-trade transparency?21. The post-trade transparency regime requires the publication of several details of certain trades executed in certain types of financial instruments, both on- and off-venue.
    Who is responsible for post-trade transparency reporting?As an SI, BNP Paribas SA is responsible for post-trade transparency reporting (in cases where the clients are not SIs themselves). In some cases, however, BNP Paribas operates via subsidiaries in Asia and in the US.
    Who must report the post-trade transparency details of an off-venue trade?The post-trade transparency details of an off-venue trade have to be reported by investment firms and systematic internalisers to APAs. To how many APAs the post-trade transparency details of an off-venue trade can be reported?
    What are post-trade transparency requirements?27. Post-trade transparency requirements are, in general, applicable to financial instruments as defined in point 15 of article 2(1) of MiFID II, referred to Section C of Annex I to MiFID II and in accordance with Member States’ laws, regulations and administrative provisions implementing MiFID II. 28.
    Should a transaction be subject to post-trade transparency?To identify if a transaction should be subject to post-trade transparency three aspects have to be analysed (i) the type of instrument subject to the transaction, (ii) the venue of execution of the transaction and, (iii) the nature of the transaction. 22.
    What are the conditions for post-trade transparency?The first aspect to analyse is the type of instrument concerned in the transaction, as further explained in Section 4.1.2 two conditions have to be met cumulatively for the transaction to be subject to post-trade transparency: (i) the instrument has to be traded on a trading venue (TOTV). (ii) the instrument has to meet a specific definition. 23.
     
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