tick size

  • ESMA Transparency Manual: UPIs for OTC Derivatives and Tick-Size Rules

    On 15 October 2026 ESMA published a new version of its Manual on pre-trade and post-trade transparency under MiFID II/MiFIR (ESMA74-2134169708-6870). The ESMA transparency manual now gives field-level guidance on how trading venues, approved publication arrangements (APAs) and the future OTC derivatives consolidated tape should identify the OTC derivatives caught by Article 8a(2) of MiFIR:…