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Commission Delegated Regulation (EU) 2025/1156

Preamble
Recitals 25
Chapter I - DEFINITIONS (Article 1) 1
Chapter II - CALCULATION OF TOTAL COSTS AND MARGINS OF MARKET DATA (Article 2-3) 2
Chapter III - NON-DISCRIMINATORY ACCESS (Article 4-6) 3
Chapter IV - UNBIASED AND FAIR CONTRACTUAL TERMS (Article 7-16) 10
Chapter V - CONTENT, FORMAT AND TERMINOLOGY OF THE MARKET DATA POLICIES (Article 17-22) 6
Chapter VI - DATA ACCESS, CONTENT AND FORMAT OF DELAYED MARKET DATA (Article 23-25) 3
Chapter VII - CONTENT, FORMAT AND TERMINOLOGY OF THE INFORMATION TO BE PROVIDED TO THE COMPETENT AUTHORITIES (Article 26) 1
Chapter VIII - FINAL PROVISIONS (Article 27-28) 2
- Article 27 - Transitional measures
- Article 28 - Entry into force
Annexes 2
- Annex I
- Annex II

Article 27 - Transitional measures

Article 27

Transitional measures

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For market operators and investment firms operating a trading venue, APAs and systematic internalisers which are authorised before 23 November 2025, this Regulation shall apply from 23 August 2026.

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