viivästyskauppadirektiivi

The viivästyskauppadirektiivi, officially known as Directive 2011/7/EU, is a European Union regulation aimed at promoting the use of delay trading in the financial markets. Delay trading involves the practice of buying or selling financial instruments at a later time than the actual transaction occurs. This directive was adopted to enhance market liquidity, improve price discovery, and reduce the risk of market manipulation.

The directive applies to all financial instruments traded on regulated markets within the EU, including equities, derivatives, and other financial products. It mandates that market operators provide a delay trading service, which allows participants to submit orders for execution at a specified time in the future. This service is intended to be available to all market participants, including retail investors, and must be provided free of charge.

One of the key objectives of the viivästyskauppadirektiivi is to increase market liquidity by encouraging more participants to engage in trading activities. By allowing traders to submit orders for future execution, the directive aims to create a more stable and predictable market environment. Additionally, it seeks to enhance price discovery by providing a mechanism for traders to express their intentions without immediately impacting the market price.

The directive also includes provisions to prevent market abuse and manipulation. It requires market operators to implement robust controls and monitoring systems to ensure the integrity of the delay trading service. This includes measures to prevent the misuse of delay trading for manipulative purposes, such as spoofing or wash trading.

In summary, the viivästyskauppadirektiivi is a crucial piece of EU legislation designed to promote delay trading in the financial markets. By enhancing market liquidity, improving price discovery, and ensuring the integrity of the trading process, the directive aims to create a more stable and efficient financial market environment.