The latest resilience news from around the world

ESMA issues consultation paper on market outages

The European Securities and Markets Authority (ESMA) has issued a consultation paper (CP) aimed at gathering stakeholders’ feedback on new proposed guidance on how trading venues should communicate with market participants in case of an outage.

The CP sets out ESMA’s expectations on how National Competent Authorities (NCA) should ensure that trading venues have appropriate communication protocols in place ensuring the communication to members and participants and the public during an outage.

In addition, the CP includes ESMA’s guidance on how NCAs should ensure that trading venues have arrangements in place to avoid that an outage affects the closing auction, and, where an outage prevents the trading venue from running the closing auction, to ensure that the market is provided with an official closing price.

It also seeks feedback from stakeholder on measures that a trading venue should have in place to ensure that it has the ability to run its closing auction and on whether the lack of a reference price raises any concern in an outage context.

Finally, the CP covers outages on non-equity markets.

Feedback given about the CP will be published in a final report, scheduled for Q1 2023.

More details.



Want news and features emailed to you?

Signup to our free newsletters and never miss a story.

A website you can trust

The entire Continuity Central website is scanned daily by Sucuri to ensure that no malware exists within the site. This means that you can browse with complete confidence.

Business continuity?

Business continuity can be defined as 'the processes, procedures, decisions and activities to ensure that an organization can continue to function through an operational interruption'. Read more about the basics of business continuity here.

Get the latest news and information sent to you by email

Continuity Central provides a number of free newsletters which are distributed by email. To subscribe click here.