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ESMA Is Seeking Secondary Market Experts To Join Its Consultative Working Group

Date 04/08/2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is today opening the call for expression of interest to renew the composition of the Consultative Working Group (CWG) of the ESMA Secondary Markets Standing Committee (SMSC). Experts are asked to send their application by 14 September. The members of the CWG are selected for a two-year renewable term. 

Applications for the CWG must be submitted by email no later than 14 September, 18:00 CET, to the following email address: Assistants_MDR@esma.europa.eu.

The CWG is mainly expected to advise and assist the SMSC on technical standards to be submitted to the European Commission; guidelines, Q&As and other relevant guidance under ESMA’s supervisory convergence mandate in relation to relevant legislative provisions within the area of competence of the SMSC; any issues in the context of the implementation and application of secondary markets relevant legislation; and assessing the potential impact of any measures contemplated by the SMSC.

The SMSC undertakes ESMA’s work related to the structure, transparency and efficiency of secondary markets for financial instruments, including trading venues and OTC markets. In terms of policy, among others, it has the responsibility for elaborating technical standards, guidelines, opinions, Q&As and other guidance. In addition, it offers advice to the European Commission related to pre-trade and post-trade transparency requirements for equity, equity-like and non-equity instruments, provisions governing access to CCPs, trading venues and benchmarks, market structures and microstructures, organisational requirements for investment firms, requirements applying to data services providers and the trading obligations for derivatives and shares.

The SMSC also provides a forum for national competent authorities to exchange experiences on MiFID II/MiFIR implementation and related supervisory issues.