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ESMA Q&A 1551 — Q&A — Transparency - pre-trade quote publication and ISIN [Answer Published]

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Transparency - pre-trade quote publication and ISIN

Question

Does an ISIN need to be included for pre-trade quote publication?

Answer

[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 2.5]

Pre-trade transparency information should allow identifying unequivocally the financial instrument to which the information published refers. ISINs are one of the available ways to ensure the unequivocal identification of a financial instrument. However, ESMA recognises that ISINs may not always be available when providing a quote. Trading venues and systematic internalisers are free to use other ways for identifying instruments for pre-trade transparency purposes as long as the financial instrument can be unequivocally identified.

Source: ESMA original document