With effect of 3 January 2018 MiFID II requires that investment firms that pursue a market making strategy have to sign a market making requirement and are obliged to meet requirements as defined by the trading venue.

The requirements apply for:

Also MiFID market makers are required to flag order and quotes which are submitted to Wiener Börse AG with a "liquidity provision" (pdf-file 60 KB) flag in order to distinguish them from other order flows.

Under MiFID II there are two special conditions which have to be considered:

  • Stressed market conditions (SMC) – RTS 8 Art. 5
    Only affect liquid instruments and liquid ETFs & ETPs as defined in accordance with MiFIR Art. 2(1)(17)
  • Exceptional circumstances (EMC) – RTS 8 Art. 3 and 4
    Affect market making in all financial products traded at Wiener Börse AG