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Collection of information on financial instruments offered by Cyprus Investment Firms

Directive 2014/65/EU on markets in financial instruments (MiFID II) and Regulation 600/2014 on markets in financial instruments (MiFIR), which will take effect on 3 January 2018, introduce changes in the scope of the financial instruments that are covered by the existing MiFID. For example, the scope of the transaction reporting obligation will be extended to include instruments trading on Multilateral Trading Facilities and Organised Trading Facilities, as well as financial instruments which have instruments trading on trading venues as an underlying instrument. In addition, the pre-trade and post-trade transparency requirements will apply to a wider range of financial instruments than at present.

In preparation for the change the Cyprus Securities and Exchange Commission (“CySEC”) is undertaking an information-gathering exercise regarding the volume of transactions carried out by Cyprus Investment Firms on behalf of clients for each asset sub-class of financial instruments as a percentage of total transactions. CySEC requires Cyprus Investment Firms to complete and submit the prescribed report form, covering the 2016 calendar year, by 13 February 2017.