The European Securities and Markets Authority has published a decision (dated September 26, 2018) of its Board of Supervisors to withdraw its existing Guidelines for trading platforms, investment firms and national regulators on systems and controls in an automated trading environment.

The Guidelines were published by ESMA in 2011 to provide important clarifications to ensure a common, uniform and consistent application of the original Markets in Financial Instruments Directive and its secondary legislation (MiFID I). The content of the Guidelines has now been incorporated within, and consequently superseded by, detailed provisions in the revised Markets in Financial Instruments Directive and its secondary legislation (MiFID II) and the Market Abuse Regulation.

The Guidelines have been withdrawn effective from September 26, 2018.

View the ESMA decision.