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rec_16

(16) Regulation (EU) No 596/2014 contains reference to the date of application of the new legal framework. In order to ensure that references in Regulation (EU) No 596/2014 to organised trading facilities, small and medium-sized enterprises' (‘SME’) growth markets, emission allowances or auctioned products based thereon do not apply until the date of application of Regulation (EU) No 600/2014 and Directive 2014/65/EU, Article 39(4) of Regulation (EU) No 596/2014 stating that references to them are read as references to Directive 2004/39/EC should be adjusted taking into account the extension of the date of application of those acts.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-19 · Text as adopted (Official Journal); later amendments are not incorporated in this text.