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The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued today an opinion supporting a revised Accepted Market Practice (AMP) on liquidity contracts notified by the Portuguese market regulator, the Comissão do mercado de valores mobiliários (CMVM).
ESMA considers that the revised CMVM’s AMP is compatible with Article 13(2) of the Market Abuse Regulation (MAR) and with the CDR 2016/908 and contains various mechanisms to limit the threat to market confidence with respect to liquidity contracts and therefore maintains its previous positive opinion.
