{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["2016/908 — RTS — Accepted market practices [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":"/mar/level-2/rts/2016-908-accepted-market-practices/articles/3","url":"https://www.headlesslaw.com/mar/level-2/rts/2016-908-accepted-market-practices/articles/3","title":"Article 3 — Transparency","family":"l2_unit_view","work_id":"spaces/mar/level-2/rts/2016-908-accepted-market-practices","view_of":"/mar/level-2/rts/2016-908-accepted-market-practices","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"Commission Delegated Regulation (EU) 2016/908, OJ L 153, 10.6.2016","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/eli/reg_del/2016/908/oj/eng","valid_from":"2016-06-11","valid_until":null,"content_id":"49ceed06e675057a","versions":["2016-06-11"],"version_url":"https://www.headlesslaw.com/mar/level-2/rts/2016-908-accepted-market-practices/articles/3/versions/2026-10-26","revision_url":"https://www.headlesslaw.com/mar/level-2/rts/2016-908-accepted-market-practices/articles/3/versions/2026-10-26/rev/49ceed06e675057a","versions_url":"https://www.headlesslaw.com/mar/level-2/rts/2016-908-accepted-market-practices/articles/3/versions","relations_url":"https://www.headlesslaw.com/mar/level-2/rts/2016-908-accepted-market-practices/articles/3/relations","act_url":"https://www.headlesslaw.com/mar/level-2/rts/2016-908-accepted-market-practices#art-3","source_line":"Commission Delegated Regulation (EU) 2016/908 · binding · OJ L 153, 10.6.2016 · dated 26 Feb 2016 [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":"2016-02-26","entry_into_force":"2016-06-11","locators":{"document_date":"CELLAR 32016R0908 work_date_document","entry_into_force":"CELLAR 32016R0908 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mar/level-2/rts/2016-908-accepted-market-practices","path":"/mar/level-2/rts/2016-908-accepted-market-practices","name":"Commission Delegated Regulation (EU) 2016/908","number":"2016/908","celex":"32016R0908","title_official":"COMMISSION DELEGATED REGULATION (EU) 2016/908 of 26 February 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council laying down regulatory technical standards on the criteria, the procedure and the requirements for establishing an accepted market practice and the requirements for maintaining it, terminating it or modifying the conditions for its acceptance (Text with EEA relevance)","document_date":"2016-02-26"},"position":{"kind":"article","key":"3","index":3,"articles":14,"annexes":1},"prev":{"path":"/mar/level-2/rts/2016-908-accepted-market-practices/articles/2","key":"2","title":"Article 2 — General requirements"},"next":{"path":"/mar/level-2/rts/2016-908-accepted-market-practices/articles/4","key":"4","title":"Article 4 — Safeguards of the operations of the market forces and interplay of the forces of supply and demand"},"act_anchor":"#art-3"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2016/908/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mar/level-2/rts/2016-908-accepted-market-practices.md","unit_text_sha256":"731abb3eddaa62b3fe7a7ed68d79c4a000ff88043f60fc5589eb05644ae0a3d8","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/mar/level-2/rts/2016-908-accepted-market-practices/art-3","kind":"article","key":"3","heading":"Article 3 — Transparency","text":"## <a id=\"art-3\"></a>Article 3 — Transparency\n\n1. <a id=\"art-3-p-1\"></a>In determining whether a market practice can be established as an AMP and whether it fulfils the criterion set out in point (a) of Article 13(2) of Regulation (EU) No 596/2014, competent authorities shall examine whether the market practice ensures that the following information will be disclosed to the public:\n\n    <a id=\"art-3-p-1-a\"></a>**(a)** before a market practice is performed as an AMP:\n\n    <a id=\"art-3-p-1-a-i\"></a>**(i)** the identities of the beneficiaries and the persons who will perform it and the one among them that is responsible to fulfil the transparency requirements under points (b) and (c) of this paragraph;\n\n    <a id=\"art-3-p-1-a-ii\"></a>**(ii)** the identification of the financial instruments in relation to which the AMP will apply;\n\n    <a id=\"art-3-p-1-a-iii\"></a>**(iii)** the period during which the AMP will be performed and situations or conditions leading to the temporary interruption, suspension or termination of its performance;\n\n    <a id=\"art-3-p-1-a-iv\"></a>**(iv)** the identification of the trading venues on which the AMP will be carried out, and, where applicable, indication of the possibility to execute transactions outside a trading venue;\n\n    <a id=\"art-3-p-1-a-v\"></a>**(v)** reference to the maximum amounts of cash and of the number of financial instruments allocated to the performance of the AMP, if applicable.\n\n    <a id=\"art-3-p-1-b\"></a>**(b)** once the market practice is performed as an AMP:\n\n    <a id=\"art-3-p-1-b-i\"></a>**(i)** on a periodic basis, details of the trading activity relating to the performance of the AMP such as the number of transactions executed, volume traded, average size of the transactions and average spreads quoted, prices of executed transactions;\n\n    <a id=\"art-3-p-1-b-ii\"></a>**(ii)** any changes to previously disclosed information on the AMP, including changes relating to available resources in terms of cash and financial instruments, changes to the identity of persons performing the AMP, and any change in the allocation of cash or financial instruments in the accounts of the beneficiary and the persons performing the AMP.\n\n    <a id=\"art-3-p-1-c\"></a>**(c)** when the market practice ceases to be performed as an AMP on the initiative of the person who has been performing it, of the beneficiary or of both:\n\n    <a id=\"art-3-p-1-c-i\"></a>**(i)** the fact that the performance of the AMP has ceased;\n\n    <a id=\"art-3-p-1-c-ii\"></a>**(ii)** a description of how the AMP has been performed;\n\n    <a id=\"art-3-p-1-c-iii\"></a>**(iii)** the reasons or causes for ceasing the performance of the AMP.\n\n    For the purposes of point (b)(i), where multiple transactions in a single trading session are performed, daily aggregated figures may be acceptable in relation to the appropriate categories of information.\n\n1. <a id=\"art-3-p-2\"></a>In determining whether a market practice can be established as an AMP and whether it fulfils the criterion set out in point (a) of Article 13(2) of Regulation (EU) No 596/2014, competent authorities shall examine whether the market practice ensures that the following information will be disclosed to them:\n\n    <a id=\"art-3-p-2-a\"></a>**(a)** before a market practice is performed as an AMP, the arrangements or contracts between the identified beneficiaries and the persons who will perform the market practice once established as an AMP where such arrangements or contracts are needed for its performance;\n\n    <a id=\"art-3-p-2-b\"></a>**(b)** once the market practice is performed as an AMP, periodic report to the competent authority providing details about the transactions executed and about the operations of any arrangement or contract between the beneficiary and the persons performing the AMP.\n\n","marks":[],"text_hash":"731abb3eddaa62b3fe7a7ed68d79c4a000ff88043f60fc5589eb05644ae0a3d8","revision":1}}