2025-11-24
Added · Updated
The European Commission amends Delegated Regulation (EU) 2017/567 to replace the 'free float' criterion with a 'market capitalisation' threshold of EUR 100 million for determining liquid equity markets, while maintaining unchanged thresholds for depositary receipts, ETFs, and certificates. The regulation specifies that the denominator for calculating average daily turnover and transactions must be the number of days the instrument was available for trading on the most relevant market, and deems other similar financial instruments illiquid. It deletes Chapter II regarding market data provision, which is superseded by Regulation (EU) 2025/1156, and removes obsolete provisions on systematic internaliser sizes and portfolio compression disclosures. Additionally, it defines post-trade risk reduction services to include compression, rebalancing, and basis risk optimisation, with the deletion of Chapter II taking effect on 23 August 2026.
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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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