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New version applies from 05/06/2023 — introduced by Commission Delegated Regulation (EU) 2023/944. 16 provisions change. Later versions: 01/01/2024, 23/11/2025, 02/03/2026.

View as of 05/06/2023 What changes

Commission Delegated Regulation (EU) 2017/587

20/04/2017 → 09/04/2019: 0 inserted · 0 removed · 23 amended · 0 moved · 19 renamed · 22 unchanged

Position-only shifts inside the same heading are not changes. Amended = the printed text changed.

Preamble

Preamble · 1 unchanged

Preamble

Recitals

Recitals · 21 unchanged

Recital 1 · Recital 2 · Recital 3 · Recital 4 · Recital 5 · Recital 6 · Recital 7 · Recital 8 · Recital 9 · Recital 10 · Recital 11 · Recital 12 · Recital 13 · Recital 14 · Recital 15 · Recital 16 · Recital 17 · Recital 18 · Recital 19 · Recital 20 · Recital 21

Chapter I - GENERAL

amended Article 1 - Definitions Chapter I
amendedrenamed Article 2 Chapter I was “Article 2 - Transactions not contributing to the price discovery process (Article 23(1) of Regulation (EU) No 600/2014)”

Chapter II - PRE-TRADE TRANSPARENCY

amendedrenamed Article 3 Chapter II › Section 1 was “Article 3 - Pre-trade transparency obligations (Article 3(1) and (2) of Regulation (EU) No 600/2014)”
amendedrenamed Article 4 Chapter II › Section 1 was “Article 4 - Most relevant market in terms of liquidity (Article 4(1)(a) of Regulation (EU) No 600/2014)”
amendedrenamed Article 5 Chapter II › Section 1 was “Article 5 - Specific characteristics of negotiated transactions (Article 4(1)(b) of Regulation (EU) No 600/2014)”
amendedrenamed Article 6 Chapter II › Section 1 was “Article 6 - Negotiated transactions subject to conditions other than the current market price (Article 4(1)(b) of Regulation (EU) No 600/2014)”
amendedrenamed Article 7 Chapter II › Section 1 was “Article 7 - Orders that are large in scale (Article 4(1)(c) of Regulation (EU) No 600/2014)”
amendedrenamed Article 8 Chapter II › Section 1 was “Article 8 - Type and minimum size of orders held in an order management facility (Article 4(1)(d) of Regulation (EU) No 600/2014)”
amendedrenamed Article 9 Chapter II › Section 2 was “Article 9 - Arrangements for the publication of a firm quote (Article 14(1) of Regulation (EU) No 600/2014)”
amendedrenamed Article 10 Chapter II › Section 2 was “Article 10 - Prices reflecting prevailing market conditions (Article 14(3) of Regulation (EU) No 600/2014)”
amendedrenamed Article 11 Chapter II › Section 2 was “Article 11 - Standard market size (Article 14(2) and (4) of Regulation (EU) No 600/2014)”

Chapter III - POST-TRADE TRANSPARENCY FOR TRADING VENUES AND INVESTMENT FIRMS TRADING OUTSIDE A TRADING VENUE

amendedrenamed Article 12 Chapter III was “Article 12 - Post-trade transparency obligations (Article 6(1) and Article 20(1) and (2) of Regulation (EU) No 600/2014)”
amendedrenamed Article 13 Chapter III was “Article 13 - Application of post-trade transparency to certain types of transactions executed outside a trading venue (Article 20(1) of Regulation (EU) No 600/2014)”
amendedrenamed Article 14 Chapter III was “Article 14 - Real time publication of transactions (Article 6(1) of Regulation (EU) No 600/2014)”
amendedrenamed Article 15 Chapter III was “Article 15 - Deferred publication of transactions (Article 7(1) and 20(1) and (2) of Regulation (EU) No 600/2014)”
amended Article 16 - References to trading day and daily trading hours Chapter III

Chapter IV - PROVISIONS COMMON TO PRE-TRADE AND POST-TRADE TRANSPARENCY CALCULATIONS

amendedrenamed Article 17 Chapter IV was “Article 17 - Methodology, date of publication and date of application of the transparency calculations (Article 22(1) of Regulation (EU) No 600/2014)”
amendedrenamed Article 18 Chapter IV was “Article 18 - Reference to competent authorities (Article 22(1) of Regulation (EU) No 600/2014)”
amended Article 19 - Transitional provisions Chapter IV
amended Article 20 - Entry into force and application Chapter IV

Annexes

amendedrenamed Annex I - Information to be made public was “Annex I”
amendedrenamed Annex II - Orders large in scale compared with normal market size, standard market sizes and deferred publications and delays was “Annex II”
amendedrenamed Annex III - Reference data to be provided for the purpose of transparency calculations was “Annex III”