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In this act Article 7 of 12

Article 7 — Operating rules of the trading platform and market abuse detection

Financial servicesLevel 2RTSMiCAIn forceOfficial source

7(1)

1.For the purposes of Article 60(7), point (f), of Regulation (EU) 2023/1114, the notifying entity that intends to operate a trading platform for crypto-assets shall provide to the competent authority the following information:

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7(1)(a)
a)the rules on the admission of crypto-assets to trading;
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7(1)(b)
b)the approval process for admitting crypto-assets to trading, including the customer due diligence carried out in accordance with Directive (EU) 2015/849;
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7(1)(c)
c)the list of any categories of crypto-assets that will not be admitted to trading and the reasons for such exclusion;
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7(1)(d)
d)the policies, procedures and fees for the admission to trading, together with a description, where relevant, of membership, rebates and the related conditions;
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7(1)(e)
e)the rules governing order execution, including any cancellation procedures for executed orders and for disclosing such information to market participants;
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7(1)(f)
f)the methods put in place to assess the suitability of crypto-assets in accordance with Article 76(2) of Regulation (EU) 2023/1114;
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7(1)(g)
g)the systems, procedures and arrangements put in place to comply with Article 76(7) of Regulation (EU) 2023/1114;
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7(1)(h)
h)the manner of making public any bid and ask prices, the depth of trading interests at those prices that are advertised for crypto-assets through their trading platform and price, volume and time of transactions executed in respect of crypto-assets traded on their trading platform, in accordance with Article 76(9) and (10) of Regulation (EU) 2023/1114;
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7(1)(i)
i)the fee structures and a justification on how those structures comply with Article 76(13) of Regulation (EU) 2023/1114;
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7(1)(j)
j)the systems, procedures and arrangements put in place to keep data relating to all orders at the disposal of the competent authority or the mechanism to ensure that the competent authority has access to the order book and any other trading system;
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7(1)(k)
k)with regards to the settlement of transactions:
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7(1)(k)(i)
i)whether the final settlement of transactions is initiated on the distributed ledger or outside the distributed ledger;
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7(1)(k)(ii)
ii)the timeframe within which the final settlement of crypto-asset transactions is initiated;
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7(1)(k)(iii)
iii)the way to verify the availability of funds and crypto-assets;
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7(1)(k)(iv)
iv)the way to confirm the relevant details of transactions;
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7(1)(k)(v)
v)the measures foreseen to limit settlement fails;
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7(1)(k)(vi)
vi)the moment at which settlement is final and the moment at which final settlement is initiated following the execution of the transaction;
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7(1)(l)
l)the procedures and systems put in place to detect and prevent market abuse, including information on the communications to the competent authority of possible market abuse cases.
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7(2)

2.Notifying entities intending to operate a trading platform for crypto-assets shall provide to the competent authority a copy of the operating rules of the trading platform and of any procedures to detect and prevent market abuse.

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