Regulatory Alerts2026-02-20
Added · Updated
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.