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Preliminary report

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15 November 2021 | ESMA70-445-7 Preliminary report Emission Allowances and derivatives thereof ESMA 201-203 rue de Bercy CS 80910 75589 Paris Cedex 12 France Tel. +33 (0) 1 58 36 43 21 2 15 November 2021 ESMA 70-445-7 3 Table of Contents 1 Executive Summary ........................................ ........................................ .......................... 4 2 Introduction ........................................ ........................................ ....................................... 6 3 Carbon markets and the regulatory environment in securities supervision ....................... 8 Carbon markets under MiFID II/MiFIR ........................................ ............................... 8 Financial Instruments.

thereof. Content Following an introduction (Section 2) where ESMA describes the mandate received as well as the functioning of the primary and secondary markets on emission allowances, the report is structured as follows: Section 3 presents the regulatory environment for the EU carbon market under financial

  Thereof

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