ESMA publishes Supervisory Briefing on algorithmic trading under MiFID II: What firms need to know

On 26 February 2026, the European Securities and Markets Authority (ESMA) published a new supervisory briefing on algorithmic trading. It aims to provide guidance to both regulators and investment firms on the supervision of algorithmic trading activities under the Markets in Financial Instruments Directive (MiFID II), by providing clarity on key terminology, and on supervisory expectations. In this way, the supervisory briefing aims to drive closer alignment across EU supervisory approaches,... By: Hogan Lovells