What changes on 23/11/2025

The text in force from 01/07/2012 compared with the text from 23/11/2025.

Read the act as of 23/11/2025 · other versions:

Chapter I

• inserted Article 1 - Definitions

Chapter II

• inserted Article 2 - Minimum requirements for the quality of transmission protocols (Article 22a(1) of Regulation (EU) No 600/2014)
• inserted Article 3 - Real time transmission of data (Article 22a(1) of Regulation (EU) No 600/2014)
• inserted Article 4 - Data standards and format for the transmission of input data (Article 22a(1) and Article 22b(3), point (d), of Regulation (EU) No 600/2014)
• inserted Article 5 - Data to be transmitted to the CTP for bonds (Article 22b(1) and Article 22b(3), point(d), of Regulation (EU) No 600/2014)
• inserted Article 6 - Data to be transmitted to the CTP for shares and ETFs (Article 22b(1) and Article 22b(3), point (d), of Regulation (EU) No 600/2014)
• inserted Article 7 - Data to be disseminated by the CTP for bonds (Article 22b(1) and Article 22b(3), point (b), of Regulation (EU) No 600/2014)
• inserted Article 8 - Data to be disseminated by the CTP for shares and ETFs (Article 22b(1) and Article 22b(3), point (b), of Regulation (EU) No 600/2014)
• inserted Article 9 - Dissemination of output data to ensure machine-readability and human-readability (Article 22b(3)(b) and Article 27h(1), point (e), of Regulation (EU) No 600/2014)
• inserted Article 10 - Management of incomplete or potentially erroneous information by CTPs (Article 22b(3), Article 27h(1), points (a), (d) and (f), and Article 27h(3) of Regulation (EU) No 600/2014)

Chapter III

• inserted Article 11 - Reference time (Article 22c(1) of Regulation (EU) No 600/2014)
• inserted Article 12 - Level of accuracy for operators of trading venues and systematic internalisers (Article 22c(1) of Regulation (EU) No 600/2014)
• inserted Article 13 - Level of accuracy for members, participants or users of a trading venue (Article 22c(1) of Regulation (EU) No 600/2014)
• inserted Article 14 - Level of accuracy for DPEs (Article 22c(1) of Regulation (EU) No 600/2014)
• inserted Article 15 - Level of accuracy for APAs and CTPs (Article 22c(1) of Regulation (EU) No 600/2014)
• inserted Article 16 - Compliance with the maximum divergence requirements (Article 22c(1) of Regulation (EU) No 600/2014)

Chapter IV

• inserted Article 17 - Determination of the amount of the revenue to be redistributed, of the eligible data contributors, and the relevant assessment periods (Article 27h(6) and (7) of Regulation (EU) No 600/2014)
• inserted Article 18 - Methodology for calculating the amount of the revenue to be redistributed to eligible data contributors meeting the criterion under Article 27h(6), point (a), of Regulation (EU) No 600/2014 (Article 27h(6), point (a), (7), point (a), and (8), points (a) and (b), of Regulation (EU) No 600/2014)
• inserted Article 19 - Methodology for calculating the amount of revenues to be redistributed to eligible data contributors meeting the criterion under Article 27h(6), point (b), of Regulation (EU) No 600/2014 (Article 27h(6), point (b), (7), point (b), and (8), points (a) and (b), of Regulation (EU) No 600/2014)
• inserted Article 20 - Methodology for calculating the amount of revenues to be redistributed to eligible data contributors meeting the criterion under Article 27h(6), point (c), of Regulation (EU) No 600/2014 (Article 27h(6), point (c), (7), point (c), and (8), points (a) and (b), of Regulation (EU) No 600/2014)
• inserted Article 21 - Methodology for determining the amount of revenue to be redistributed (Article 27h(7) and (8), point (b), of Regulation (EU) No 600/2014)
• inserted Article 22 - Criteria for the temporary suspension of the participation in the revenue redistribution scheme (Article 27h(8), point (c), of Regulation (EU) No 600/2014)
• inserted Article 23 - Procedure for the temporary suspension of the participation in the revenue redistribution scheme (Article 27h(8), point (c), of Regulation (EU) No 600/2014)
• inserted Article 24 - Conditions for the resumption of revenue redistribution and for the provision of revenue retained plus interest (Article 27h(8) point (c), of Regulation (EU) No 600/2014)

Chapter V

• inserted Article 25 - Repeal
• inserted Article 26 - Entry into force and application

Outside any heading

• inserted Recital 1
• inserted Recital 2
• inserted Recital 3
• inserted Recital 4
• inserted Recital 5
• inserted Recital 6
• inserted Recital 7
• inserted Recital 8
• inserted Recital 9
• inserted Recital 10
• inserted Recital 11
• inserted Recital 12
• inserted Recital 13
• inserted Recital 14
• inserted Recital 15
• inserted Recital 16
• inserted Recital 17
• inserted Recital 18
• inserted Recital 19
• inserted Recital 20
• inserted Recital 21
• inserted Recital 22
• inserted Recital 23
• inserted Recital 24
• inserted Recital 25
• inserted Recital 26
• inserted Preamble
• inserted Annex I
• inserted Annex II
• inserted Annex III
• inserted Annex IV
• inserted Annex V