The EU has adopted new transparency rules for derivatives under the revised MiFIR framework, following ESMA’s publication of the final technical standards. The updated regime extends pre- and post-trade transparency to all derivatives, exchange-traded and OTC, based on fixed liquidity thresholds. It also introduces harmonised deferral periods, streamlined reporting for package transactions, and the creation of a dedicated Consolidated Tape for OTC derivatives. The standards will apply from 1 March 2027, marking a significant step in the EU’s efforts to enhance market transparency and simplify reporting obligations across trading venues and firms.