(12)To introduce a simpler transparency regime that does not rely on frequent liquidity assessments, the provisions applicable to structured finance products and emission allowances set out in Delegated Regulation (EU) 2017/583 should be amended. Based on a data analysis performed by the European Securities and Markets Authority (‘ESMA’), and building on ESMA’s past experience in calibrating transparency requirements, structured finance products and emission allowances different from Union emission allowances should be considered as not having a liquid market, while Union emission allowances should be considered as having a liquid market. With respect to structured finance products, the existing pre-trade and post-trade transparency thresholds and the existing price deferral duration for illiquid structured finance products, as set out in Delegated Regulation (EU) 2017/583, should be maintained. However, considering the illiquidity of structured finance products, and considering that Regulation (EU) No 600/2014 no longer allows competent authorities to provide for a supplementary deferral period for those instruments, a standard volume deferral duration of up to two weeks after the date of the transaction should be introduced. With respect to emission allowances, pre-trade and post-trade transparency thresholds should be set in tonnes of CO 2 (tCO 2 ) rather than lots, as tCO 2 is the common unit of measurement for those instruments. Based on a data analysis performed by ESMA, while taking into account the liquid nature of Union emission allowances, the maximum deferral period for Union emission allowances should be no longer than 19:00 local time on the second working day after the date of the transaction.