Article summary
The International Capital Market Association (ICMA) has responded to the political agreement on the Markets in Financial Instruments Regulation (MiFIR) Review reached on 29 June 2023, between the EU Council and European Parliament. The agreement includes changes to pre-trade reporting and post-trade transparency for sovereign bonds, and the removal of a proposal for deferrals by the eventual consolidated tape provider. While ICMA welcomes these changes, it raises concerns about the deferrals regime for bond markets and calls for further refinements to ensure EU bond transparency.
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