EFAMA members are paying close attention to the ongoing discussions in the European Parliament and Council to reach a compromise on the MiFID review. Together with  a broad majority of market participants, including the sell-side and alternative trading venues, we have consistently made the case for a real-time tape for equities with the inclusion of pre and post-trade data.

Following in the footsteps of the European Parliament earlier this month, the Council of the EU has now finalised the legislative process by adopting the Corporate Sustainability Reporting Directive (CSRD), a move which is very much welcomed by EFAMA. This comes days after the first set of European Sustainability Reporting Standards (ESRS), which give life to the double materiality principle established by the CSRD, were finalised by EFRAG and submitted to the European Commission for adoption.