{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2022-11-29","held_since":"2022-11-29","gaps":[],"covered":["149/2013 — RTS — Indirect clearing, clearing obligation, public register [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/16","url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/16","title":"Article 16 — (Article 11(14)(b) of Regulation (EU) No 648/2012)","family":"l2_unit_view","work_id":"spaces/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register","view_of":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-02","applies_from":null,"application":null,"version_label":"Consolidated version of 29 November 2022","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02013R0149-20221129","valid_from":"2013-03-15","valid_until":null,"content_id":"3dd4c43a7063ea66","versions":["2013-03-15"],"version_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/16/versions/2022-11-29","revision_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/16/versions/2022-11-29/rev/3dd4c43a7063ea66","versions_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/16/versions","relations_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/16/relations","act_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register#art-16","source_line":"Commission Delegated Regulation (EU) No 149/2013 · binding · OJ L 52, 23.2.2013 · dated 19 Dec 2012 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2012-12-19","entry_into_force":"2013-03-15","locators":{"document_date":"CELLAR 32013R0149 work_date_document","entry_into_force":"CELLAR 32013R0149 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register","path":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register","name":"Commission Delegated Regulation (EU) No 149/2013","number":"149/2013","celex":"32013R0149","title_official":"COMMISSION DELEGATED REGULATION (EU) No 149/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on indirect clearing arrangements, the clearing obligation, the public register, access to a trading venue, non-financial counterparties, and risk mitigation techniques for OTC derivatives contracts not cleared by a CCP (Text with EEA relevance)","document_date":"2012-12-19"},"position":{"kind":"article","key":"16","index":18,"articles":23,"annexes":0},"prev":{"path":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/15","key":"15","title":"Article 15 — (Article 11(14)(a) of Regulation (EU) No 648/2012)"},"next":{"path":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/17","key":"17","title":"Article 17 — (Article 11(14)(b) of Regulation (EU) No 648/2012)"},"act_anchor":"#art-16"}},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02013R0149-20221129","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register.md","unit_text_sha256":"b466db7b0fa26233f08f72ab5bcdd51527ace1719b315de8b96b0dd06acce7d6","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/art-16","kind":"article","key":"16","heading":"Article 16 — (Article 11(14)(b) of Regulation (EU) No 648/2012)","text":"## <a id=\"art-16\"></a>Article 16 — (Article 11(14)(b) of Regulation (EU) No 648/2012)\n\nMarket conditions that prevent marking-to-market\n\n1. <a id=\"art-16-p-1\"></a>Market conditions that prevent marking-to market of an OTC derivative contract shall be considered to occur in either of the following situations:\n\n    <a id=\"art-16-p-1-a\"></a>**(a)** when the market is inactive;\n\n    <a id=\"art-16-p-1-b\"></a>**(b)** where the range of reasonable fair values estimates is significant and the probabilities of the various estimates cannot reasonably be assessed.\n\n2. <a id=\"art-16-p-2\"></a>A market for an OTC derivative contract shall be considered inactive when quoted prices are not readily and regularly available and those prices available do not represent actual and regularly occurring market transactions on an arm’s length basis.\n\n","marks":[],"text_hash":"b466db7b0fa26233f08f72ab5bcdd51527ace1719b315de8b96b0dd06acce7d6","revision":1}}