European Commission - Market abuse: consultation on setting the scope of an order data exchange mechanism and clarifying market manipulation indicators
The Listing Act requires national competent authorities (NCAs) that supervise trading venues with a significant cross-border dimension to set up a mechanism to exchange order data on shares. The Commission is empowered to identify those trading venues.
The Market Abuse Regulation empowers the Commission to clarify market manipulation indicators.
This initiative delivers on these mandates and will strengthen NCA capacity to detect and enforce market abuse cases reduce administrative burden.
The consultation will run until 14 January 2026
