{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2023-05-29","gaps":[],"covered":["ESMA Q&A 973 — Q&A — Classification of NON EU instruments in RTS28 report [Question Rejected] L3"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"the ESMA publication"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifid-ii/level-3/q-and-a/esma/esma-qa-973-classification-of-non-eu-instruments-in-rts28-report","url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-973-classification-of-non-eu-instruments-in-rts28-report","title":"ESMA Q&A 973 — Q&A — Classification of NON EU instruments in RTS28 report [Question Rejected]","family":"l3","work_id":"spaces/mifid-ii/level-3/q-and-a/esma/esma-qa-973-classification-of-non-eu-instruments-in-rts28-report","status":"question rejected","force_status":null,"date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"ESMA Q&A register, 29 May 2023","check":{"against":"the ESMA publication","on":"2026-10-26"},"check_result":"matched","official_url":"https://www.esma.europa.eu/publications-data/questions-answers/973","valid_from":"0001-01-01","valid_until":null,"revision":1,"content_id":"0250d101ce282ff2","change_date":null,"nearest_versions":["2023-05-29"],"first_text_date":null,"correction_applies":false,"versions":["2023-05-29"],"version_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-973-classification-of-non-eu-instruments-in-rts28-report/versions/2023-05-29","revision_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-973-classification-of-non-eu-instruments-in-rts28-report/versions/2023-05-29/rev/0250d101ce282ff2","versions_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-973-classification-of-non-eu-instruments-in-rts28-report/versions","relations_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-973-classification-of-non-eu-instruments-in-rts28-report/relations","source_line":"Question published in the ESMA Q&A tool · no answer · not legislation [Question Rejected]","attribution":{"prepared_by":"not stated in the document","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_question","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"question_submitted_on":"2023-05-29","locators":{"question_submitted_on":"ESMA Q&A Excel export ESMA_QA_973, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/973","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mifid-ii/level-3/q-and-a/esma/esma-qa-973-classification-of-non-eu-instruments-in-rts28-report.md","body_sha256":"76dcd4989965a39cbb62d586d9d2c6e72efad431785d7be08e3377dcb1b27171"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 973 — Q&A — Classification of NON EU instruments in RTS28 report [Question Rejected]\"\nshortTitle: \"ESMA Q&A 973 — Q&A — Classification of NON EU instruments in RTS28 report [Question Rejected]\"\nanswer_id: ESMA_QA_973\ntopic: \"Best Execution\"\nstatus: \"Question Rejected\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: withdrawn\nregulation: \"MiFID II\"\nmifid_level3: true\nmica_level2: false\nlegal_basis: \"MiFID II\"\ndate: 29 May 2023\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/973\nlifecycle: \"Question Rejected\"\ntext_version: \"ESMA Q&A register, 29 May 2023\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/973\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"not stated in the document\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA_QA_973\"\n    locator: \"ESMA Q&A entry ESMA_QA_973: no answer; no author named\"\ndocument_type: \"qa_question\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  question_submitted_on: \"2023-05-29\"\n  locators:\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_973, column 'Date of submission'\"\nlifecycle_label: \"Question Rejected\"\n---\n\n**Question published in the ESMA Q&A tool · no answer · not legislation [Question Rejected]**\n\n*Question Rejected · ESMA Q&A register, 29 May 2023 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/973)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 973 — Q&A — Classification of NON EU instruments in RTS28 report \\[Question Rejected\\] |\n| **Prepared by** | Not stated in the document |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_973 |\n| **Document type** | Q&A |\n| **Legal nature** | No answer · not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Question submitted 29 May 2023 |\n| **Legal basis** | MiFID II |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Classification of NON EU instruments in RTS28 report**\n\n### Question\n\nFor RTS28 report, we classify the instruments using:\n\n• the cficode of Firds to classify the instruments in Equities – Shares & Depositary Receipts, Debt instruments, Interest rates derivatives ...\n\n• the volumes of Fitrs to classify the Equities – Shares & Depositary Receipts in subassets ( (i) Tick size liquidity bands 5 and 6 (from 2000 trades per day), (ii) Tick size liquidity bands 3 and 4 (from 80 to 1999 trades per day) (iii), Tick size liquidity band 1 and 2 (from 0 to 79 trades per day))\n\nHow should we classify non – EU instruments that are not present in Firds and Fitrs?\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/973)\n"}