Recital 34

Regulation (EU) 2024/791 of the European Parliament and of the Council of 28 February 2024 amending Regulation (EU) No 600/2014 as regards enhancing data transparency, removing obstacles to the emergence of consolidated tapes, optimising the trading obligations and prohibiting receiving payment for order flow (Text with EEA relevance) · European Union

(34) Article 28 of Regulation (EU) No 600/2014 requires that OTC derivatives that are subject to the clearing obligation be traded on trading venues (‘derivative trading obligation’). Regulation (EU) 2019/834 of the European Parliament and of the Council (11) amended Regulation (EU) No 648/2012 to reduce the scope of the entities that are subject to the clearing obligation. In light of the close interconnection between the clearing obligation and the derivative trading obligation, to ensure greater legal coherence, and to simplify the legal framework, it is necessary and appropriate to re-align the derivative trading obligation with the clearing obligation for derivatives. Without that alignment, certain smaller financial counterparties and non-financial counterparties would no longer be captured by the clearing obligation but continue to be captured by the derivative trading obligation.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-13 · Text as adopted (Official Journal); later amendments are not incorporated in this text.