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published in its Q&A tool · not legislation · published 15 Nov 2017 [Answer 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":"2017-11-15","question_submitted_on":"2017-11-15","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1558, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1558, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1558","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mifir/level-3/q-and-a/esma/esma-qa-1558-temporary-suspension-of-transparency-for-bonds.md","body_sha256":"bec5af2558cd64d0778a8129f50303fb49d926e1e3e59bcd2afbeac7f71d027d"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1558 — Q&A — Temporary suspension of transparency for bonds [Answer Published]\"\nshortTitle: \"ESMA Q&A 1558 — Q&A — Temporary suspension of transparency for bonds [Answer Published]\"\nanswer_id: ESMA_QA_1558\ntopic: \"Non-equity transparency\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFIR\"\nmifir_level3: true\nmica_level2: false\nlegal_basis: \"MiFIR\"\ndate: 15 November 2017\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1558\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 15 November 2017\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1558\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\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_1558: 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: \"2017-11-15\"\n  question_submitted_on: \"2017-11-15\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1558, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1558, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 15 Nov 2017 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 15 November 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1558)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1558 — Q&A — Temporary suspension of transparency for bonds \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1558 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 15 November 2017; question submitted 15 November 2017 |\n| **Legal basis** | MiFIR |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Temporary suspension of transparency for bonds**\n\n### Question\n\nHow is the concept of “class of bonds” to be understood in respect of the temporary suspension of transparency?\n\n***\n\n### Answer\n\n\\[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 4.8\\]\n\nSince the suspension of transparency under Article 9(4) and 11(2) of MiFIR applies at a class level, with respect to bonds, the classes of bonds defined in Table 2.2 Annex III of RTS 2 should be used.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1558)\n"}