The operation of the MiFID market transparency regime involves making certain information regarding shares admitted to trading available to market participants. The regime requires CESR members to make certain calculations regarding shares admitted to trading (and to some extent "liquid shares"). The results of the calculations are published by CESR on the following websiteHttp://mifiddatabase.cesr.eu.
In order to ensure smooth and harmonised calculation and publication CESR has considered it necessary to agree on this protocol. This protocol describes the tasks and responsibilities of the CESR members and the CESR Secretariat respectively. Additionally it contains practical guidance on how to conduct the calculations as well as the necessary technical instructions.