2026-02-20

Added 2026-07-13 · Updated 2026-09-22

Commission Delegated Regulation (EU) 2026/392 amending RTS on volume cap and information provision

The European Commission amends Delegated Regulation (EU) 2017/577 to align regulatory technical standards with recent legislative changes, including the qualitative assessment of systematic internalisers and the extension of record-keeping obligations to five years. The regulation deletes specific reporting requirements for the volume cap mechanism, as ESMA will now use transaction data reported under Article 26 of Regulation (EU) No 600/2014 for these calculations. It mandates that trading venues, approved publication arrangements, and consolidated tape providers submit data in XML format for pre-set calculations and allows ESMA to specify formats for ad-hoc requests. Additionally, the text updates ESMA's publication requirements for the single Union-wide volume cap set at 7% and requires direct data submission to ESMA for derivatives liquidity determinations.

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This document amends: 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