RegAlert2025-06-18
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Commission Delegated Regulation (EU) 2025/1246 amending transparency requirements for trading venues and investment firms
The European Commission amends Delegated Regulations (EU) 2017/583 and (EU) 2017/587 to update transparency requirements for trading venues and investment firms regarding bonds, structured finance products, emission allowances, and equity instruments. The regulation introduces static determination rules for large-in-scale orders and liquid markets, defines continuous order book trading systems, and establishes specific deferred publication regimes, including a standard two-week deferral for illiquid structured finance products and ETCs. For equity instruments, it refines the standard market size methodology for systematic internalisers and excludes technical 'give-up' and 'give-in' transactions from post-trade transparency obligations.
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This document amends: Commission Delegated Regulation (EU) 2017/583 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 bonds, structured finance products, emission allowances and derivatives (Text with EEA relevance. ), 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. )
Source: European Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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