d1e155-1-1__para

COMMISSION NOTICE on the interpretation and implementation of the transitional provision laid down in Regulation (EU) 2024/791 of the European Parliament and of the Council 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 · European Union

Article 14 MiFIR delegates to a new Commission delegated regulation the definition of the minimum quote size as well as of the threshold below which pre-trade transparency rules apply to SIs in equity instruments (4). Commission delegated regulation (EU) 2017/587 only defines the methods to determine the standard market size. However, it does not contain any indication as to the minimum quote size and the threshold below which pre-trade transparency rules apply to equity SIs (both elements being defined in Article 14 as applicable before 28 March). Article 14 MiFIR therefore cannot be supplemented adequately by Commission delegated regulation (EU) 2017/587. In consequence, pursuant to Article 54(3) MiFIR, the quotation rules for SIs in equity instruments, as applicable before 28 March 2024, as specified in the relevant provisions of Commission delegated regulation (EU) 2017/587, continue to apply. The new quotation rules for SIs will apply as of entry into application of the Commission delegated regulation adopted pursuant to Article 14(7) MiFIR.

← Quotation rules for SIs in equity instruments (Article 14 MiFIR) · All articles · The obligation to report transactions (Article 26 MiFIR) →

Source: EUR-Lex (Cellar) · retrieved 2026-09-07 · Text as adopted (Official Journal); later amendments are not incorporated in this text.