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Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2016-10-26","question_submitted_on":"2016-10-26","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1727, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1727, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1727","check":{"result":"matched","checked_at":"2026-10-27","against":"the ESMA publication"},"repo_path":"spaces/mar/level-3/q-and-a/esma/esma-qa-1727-exchange-rate.md","body_sha256":"fed73a08350958df7047ed47040d47c7acfdf4941edef6c2ddbc3b213d530889"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1727 — Q&A — Exchange rate [Answer Published]\"\nshortTitle: \"ESMA Q&A 1727 — Q&A — Exchange rate [Answer Published]\"\nanswer_id: ESMA_QA_1727\ntopic: \"Managers' transactions\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MAR\"\nmar_level3: true\nmica_level2: false\nlegal_basis: \"MAR\"\ndate: 26 October 2016\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1727\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 26 October 2016\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1727\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-27\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1727: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2016-10-26\"\n  question_submitted_on: \"2016-10-26\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1727, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1727, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 26 Oct 2016 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 26 October 2016 · Checked against the ESMA publication on 27 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1727)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1727 — Q&A — Exchange rate \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1727 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 26 October 2016; question submitted 26 October 2016 |\n| **Legal basis** | MAR |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Exchange rate**\n\n### Question\n\nFor transactions carried out under Article 19(1) of Regulation (EU) No 596/2014 of the European Parliament and of the council (MAR) in a currency which is not Euro (EUR), which exchange rate should be used to determine whether the threshold set forth in Article 19(8) and (9) MAR has been crossed?\n\n***\n\n### Answer\n\n\\[ESMA70-145-111 MAR Q&A, Q&A 7.1\\]\n\nIf transactions are carried out in a currency which is not the EUR, the exchange rate to be used to determine if the threshold is reached is the official daily spot foreign exchange rate which is applicable at the end of the business day when the transaction is conducted. Where available, the daily euro foreign exchange reference rate published by the European Central Bank on its website should be used.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1727)\n"}