Sometimes our job is to report doubts regulation (or interpretation). Resume Article 34 of d.16191:
Article 34 (post-trade transparency requirements for qualified entities)
1. Authorised persons for any transaction entered into, make public the following information:
a) day and hour of trading;
b) identification of the financial instrument
c) price and quantity of the operation ended.
2. The obligations under paragraph 1 shall apply to actions:
a) concluded outside a regulated market, an MTF or systematic internaliser on financial instruments admitted to trading on Italian regulated markets other than shares ;
b) with an amount less than or equal to 500,000 € .
3. For transactions that exceed the threshold specified in paragraph 2, letter b), authorized persons shall make public the information about at least a day and hour of trading, the financial instrument identifier and the price and an indication that it is operation above the threshold set out in paragraph 2, letter b).
4. The information referred to in paragraph 1 shall be published with reference to each transaction by the end of the business day following that on which the transaction was concluded. Are made public on reasonable commercial terms and in such a way as to be easily accessible.
5. Apply paragraph 5 of Article 29 and paragraphs 4, 5 and 6 of Article 30.
6. The provisions of this Article shall not apply to the wholesale trading of government securities .
The question that arises is: What is wholesale trading of government bonds ?
as a market Mts as it is a regulated market (see list of regulated markets http://www.cesr.eu/ ). The clarification of "the wholesale trading of government securities" and "strengthening" of the concept that these rules should not apply to transactions made on Mts as a regulated market to include all effects (see website http://www.cesr.eu/ ) . Also, if a government bond (for example) is purchased for an amount greater than € 500,000 on a platform and OTC (eg a broker on Bloomberg), according to subparagraph b, shall not be made to the alert.
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