ESMA Calls On Candidates to Join New Consulative Working Group

A call for candidates to join a new Consultative Working Group (CWG) has been made today by the European Securities and Markets Authority (ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term), as the existing CWG is set to expire.

ESMA opened the application process until August 15 for persons looking to join the newly constituted CWG that will serve the Secondary Markets Standing Committee (SMSC) for a new two-year term.

The CWG assists the SMSC on technical standards that are submitted to the European Commission and advises on related matters such as legislative provisions within the scope of the SMSC.

Secondary Markets Standing Committee

As the SMSC undertakes ESMS as work related to the transparency, efficiency and structure of markets such as over-the-counter (OTC) and secondary market trading venues.

This particular CWG also assists with policy by providing advice on the EC along with guidelines, Q&As and other guidance relating to pre-trade and post-trade matters. This includes for equity and equity-like instruments, as well as policies that affect access to CCPs, trading venues and benchmarks, among other areas.

The CWG also provides the same capacity on matters related to data services providers and the trading Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term for derivatives and shares, according to the ESMA announcement today that gives applicants until August 15th, 2016 to submit their interest to join.

The news follows after ESMA inked technical standards earlier this month - ahead of MiFID II coming into effect next year - and as updated in a follow-up post by Finance Magnates at the end of June.