ESMA updates transparency manual with new guidance on OTC derivatives and tick-size regime

The European Securities and Markets Authority (ESMA) has updated its manual on transparency to provide further guidance on identifying over-the-counter (OTC) derivatives subject to transparency requirements and to enhance supervisory convergence on the application of the tick-size regime. The update clarifies how identifying reference data for OTC derivatives should be provided for transparency purposes and includes published Q&As and recommendations on the tick-size regime, including when trading venues and national competent authorities may intervene.

Why it matters. The update affects market participants, trading venues, and data reporters in the EU by standardizing transparency reporting for OTC derivatives and improving consistency in tick-size regime application across jurisdictions.