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---
title: "ESMA Q&A 1551 — Q&A — Transparency - pre-trade quote publication and ISIN [Answer Published]"
shortTitle: "ESMA Q&A 1551 — Q&A — Transparency - pre-trade quote publication and ISIN [Answer Published]"
answer_id: ESMA_QA_1551
topic: "Equity transparency"
status: "Answer Published"
type: qa
instrument_type: qa
authority: ESMA
binding: false
binding_character: non_binding
legal_status: in_force
regulation: "MiFIR"
mifir_level3: true
mica_level2: false
legal_basis: "MiFIR"
date: 3 April 2017
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1551
lifecycle: "Answer Published"
text_version: "ESMA Q&A register, 3 April 2017"
source_url: "https://www.esma.europa.eu/publications-data/questions-answers/1551"
check_status: matched
verified: true
last_checked: 2026-10-26
checked_against: "the ESMA publication"
source:
  prepared_by: "ESMA"
  published_by: "ESMA"
  published_in: "ESMA Q&A tool"
  evidence:
    prepared_by: "ESMA Answer"
    locator: "ESMA Q&A entry ESMA_QA_1551: field 'ESMA Answer', no 'Answer provided by' line"
document_type: "qa_answer"
legal_nature: "not_legislation"
addressees: "not stated in the document"
dates:
  published_on: "2017-04-03"
  question_submitted_on: "2017-04-03"
  locators:
    published_on: "ESMA Q&A Excel export ESMA_QA_1551, column 'Esma responses', date line"
    question_submitted_on: "ESMA Q&A Excel export ESMA_QA_1551, column 'Date of submission'"
lifecycle_label: "Answer Published"
---

**Answer by ESMA, published in its Q&A tool · not legislation · published 3 Apr 2017 [Answer Published]**

*Answer Published · ESMA Q&A register, 3 April 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1551)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1551 — Q&A — Transparency - pre-trade quote publication and ISIN \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1551 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 3 April 2017; question submitted 3 April 2017 |
| **Legal basis** | MiFIR |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**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](https://www.esma.europa.eu/publications-data/questions-answers/1551)