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European
Legislation (EU)
EU Regulations
2017
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Table of Contents
Table of Contents
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Commission Delegated Regulation (EU) 2017/587 of 14 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on transparency requirements for trading venues and investment firms in respect of shares, depositary receipts, exchange-traded funds, certificates and other similar financial instruments and on transaction execution obligations in respect of certain shares on a trading venue or by a systematic internaliser (Text with EEA relevance) (RTS 1)
Recitals
Chapter I General (arts. 1-2)
Article 1 Definitions
Article 2 Transactions not contributing to the price discovery process
Chapter II Pre-trade Transparency (arts. 3-11)
Section 1 Pre-trade transparency for trading venues (arts. 3-8)
Article 3 Pre-trade transparency obligations
Article 4 Most relevant market in terms of liquidity
Article 5 Specific characteristics of negotiated transactions
Article 6 Negotiated transactions subject to conditions other than the current market price
Article 7 Orders that are large in scale
Article 8 Type and minimum size of orders held in an order management facility
Section 2 Pre-trade transparency for systematic internalisers and investment firms trading outside a trading venue (arts. 9-11)
Article 9 Arrangements for the publication of a firm quote
Article 10 Prices reflecting prevailing market conditions
Article 11 Standard market size
Chapter III Post-trade Transparency for Trading Venues and Investment Firms Trading Outside a Trading Venue (arts. 12-16)
Article 12 Post-trade transparency obligations
Article 13 Application of post-trade transparency to certain types of transactions executed outside a trading venue
Article 14 Real time publication of transactions
Article 15 Deferred publication of transactions
Article 16 References to trading day and daily trading hours
Chapter IV Provisions Common to Pre-trade and Post-trade Transparency Calculations (arts. 17-20)
Article 17 Methodology, date of publication and date of application of the transparency calculations
Article 18 Reference to competent authorities
Article 19 Transitional provisions
Article 20 Entry into force and application
Annex I Information to be made public
Annex II Orders large in scale compared with normal market size, standard market sizes and deferred publications and delays
Annex III Reference data to be provided for the purpose of transparency calculations
Annex IV Data to be provided for the purpose of determining the Most Relevant Market in terms of liquidity, the ADT and the AVT
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https://service.betterregulation.com/document/273695
Commission Delegated Regulation (EU) 2017/587 of 14 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on transparency requirements for trading venues and investment firms in respect of shares, depositary receipts, exchange-traded funds, certificates and other similar financial instruments and on transaction execution obligations in respect of certain shares on a trading venue or by a systematic internaliser (Text with EEA relevance) (RTS 1)
Chapter IV Provisions Common to Pre-trade and Post-trade Transparency Calculations (arts. 17-20)
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Chapter IV Provisions Common to Pre-trade and Post-trade Transparency Calculations (arts. 17-20)
Article 17 Methodology, date of publication and date of application of the transparency calculations
Article 18 Reference to competent authorities
Article 19 Transitional provisions
Article 20 Entry into force and application
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