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MiFID II

Notifications for investment firms engaging in algorithmic trading and/or providing DEA (Articles 17(2) and 17(5) MiFID II)

Article 17(2) MiFID II obliges an investment firm that engages in algorithmic trading to notify this to the national competent authority (NCA) of its home Member State and to the NCA of the trading venue at which it engages in algorithmic trading as a member or participant of the trading venue.

Article 17(5) MiFID II contains an equivalent obligation for investment firms providing direct electronic access (DEA) to a trading venue, to notify the NCAs of their home Member State and of the trading venue at which they provide DEA accordingly.

The below list provides an overview of the Article 17(2) and/or 17(5) notification procedures for 17 national competent authorities in the European Union. 

Member State

NCA

Notification procedure

DE

Hessen

Forms and information on the notification procedure can be found here.

DE

BaFin

Information on the notification procedure can be found here. Notifications to BaFin can be sent via e-mail to algoanzeige@bafin.de or deaanzeige@bafin.de.

NL

AFM

Find here the link to the AFM notification form in Dutch and here the link to the English version. Forms can be sent via e-mail to: mifid2notificaties@afm.nl.

UK

FCA

Notifications can be made through FCA Connect: https://connect.fca.org.uk.

IE

CBI

Notifications can be sent via e-mail to: amsoperations@centralbank.ie and should contain at least the following information:

  • This is an Article 17(2) notification
  • Full name of firm
  • Name of firm's NCA
  • Firm reference number from its NCA
  • The Irish trading venue that the firm uses algorithms on or provides DEA to.

CBI will subsequently advise regarding any further needed steps or information.

FR

AMF

Attached. The notifications can be sent to AMF via e-mail: intermediaires@amf-france.org.

ES

CNMV

Attached.

PL

KNF

Notifications (free format) can be sent to KNF via regular post to their normal postal address.

PT

CMVM

Notifications (free format) can be sent to CMVM via e-mail: RTS6@cmvm.pt

BE

FSMA

Notifications can be sent to FSMA via e-mail: mifid2Markets@fsma.be. FSMA requests firms to include in their notification their LEI code, whether the algorithm(s) have a market making strategy and on which trading venue (including which segment) firms will apply these algorithm(s).

CZ

CNB

Notifications (free format) can be sent to CNB in an official letter containing a clear specification of the entity that is notifying and its intention to trade algorithmically.

DK

DFSA

Notifications (free format) to Finanstilsynet can be sent via e-mail: algo@ftnet.dk .

SE

FI

Find here the link to the Finansinspektionen notification form.

LV

FCMC 

Notifications (free format) to FCMC can be sent via e-mail: fktk@fktk.lv.

FI

Finanssivalvonta

Instructions attachedNotifications can be sent via e-mail to: MiFIDilmoitukset@fiva.fi 

LT

 

Notifications (free format) can be sent to the Central Bank of Lithuania in an official letter via regular post to their normal postal address.

IT

Consob

Notifications (free format) to Consob can be sent to Consob’s general e-mail address: protocollo@consob.it and to the relevant supervisory unit: vigilanzainfrastrutture@consob.it.

 

 

DISCLAIMER: This webpage is provided for informational purposes and does not constitute legal advice or a full description of the applicable legal or regulatory requirements under MiFID II, MiFIR, the relevant EU-level implementing legislation, related EU-level guidance or, where referenced, national implementation measures. Although care has been taken to assure that the contents of this information are accurate as of the date of issue, FIA EPTA specifically disclaims any legal responsibility for any errors or omissions and disclaims any liability for losses or damages incurred through the use of the information herein. FIA EPTA undertakes no obligation to update the contents of this website following the date of issue.

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