Netherlands – AFM MiFID Market Data Guidelines

Netherlands – AFM MiFID Market Data Guidelines

On 18 October 2021, NLD AFM compliance with ESMA market data guidelines.

  • NLD AFM announced compliance with ESMA guidelines for MiFID2/MIFIR market data.
  • Follows ESMA August 2021 translated guidelines on MiFID II/MiFIR duties.


  • Guidelines will ensure better and uniform application of the MiFID II/MiFIR obligations.
  • The guidelines apply to national competent authorities, trading venues, approved publication arrangements, consolidated tape providers and systematic internalizers.
  • Ensure uniform interpretation of obligations for pre-trade/post-trade transparency.
  • Includes obligation to provide market data on reasonable commercial terms and to make the market data available free of charge 15 minutes after publication.
  • The guidelines apply to entities including trading platforms; providers of approved publication arrangements (APAs); consolidated tape providers (CTPs).
  • And to systematic internalizers (SIs) investment firms (except chapter 5.8).


  • ESMA MiFID II/MiFIR obligations on market data guidelines apply from 1 January 2022.