• BaFin extended current transparency regime for further 6 months, until 3 July 2022.
• Follows GE BaFin December 2020 announced post-trade transparency decrees.

Summary

• MiFIR requires post-trade reporting in real-time/as quickly as technically possible.
• But allows national supervisory authorities to authorize publication at a later date.
• The regime was due to end 2 January, 2022, but is now extended until 3 July 2022.

Decrees

• General decree permitting subsequent publication of transactions in non-equity instruments on trading venues operated by an investment services company.
• General decree permitting investment services companies to publish over-the-counter (OTC) transactions with non-equity instruments at a later date.
• And a general decree permitting a later publication of transactions in equity instruments on trading venues operated by an investment services company.
• A separate approval of a later publication of OTC transactions with equity instruments is not planned; according to MiFIR, these are covered by the permit for trading venues.
• Trading venues that fall under the supervision of GE BaFin must obtain their approval before they make use of the permission to publish them at a later date.

Effectiveness

• The general decrees will take effect on 3 January 2022; valid until 3 July 2022.