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# Article 82 — Circumstances where a conduct indicating behaviour that is prohibited under Regulation (EU) No 596/2014 may be assumed (Articles 31(2) and 54(2) of Directive 2014/65/EU)

**Commission Delegated Regulation (EU) 2017/565 · binding · OJ L 87, 31.3.2017 · dated 25 Apr 2016 [in force]**

*In force · Consolidated version of 2 August 2022 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02017R0565-20220802)*

1. <a id="art-82-p-1"></a>When assessing whether the requirement to immediately inform their competent authorities of conduct that may indicate behaviour that is prohibited under Regulation (EU) No 596/2014 applies, operators of trading venues shall consider the signals listed in Section B of Annex III to this Regulation.

2. <a id="art-82-p-2"></a>The operator of one or several trading venues where a financial instrument and/or related financial instrument are traded shall apply a proportionate approach and shall exercise judgment on the signals triggered, including any relevant signals not specifically included in Section B of Annex III to this Regulation, before informing the relevant national competent authority, taking into account the following:

    <a id="art-82-p-2-a"></a>**(a)** the deviations from the usual trading pattern of the financial instruments admitted to trading or traded on its trading venue; and

    <a id="art-82-p-2-b"></a>**(b)** the information available or accessible to the operator, whether that be internally as part of the operations of the trading venue or publicly available.

3. <a id="art-82-p-3"></a>The operator of one or several trading venues shall take into account front running behaviours, which consist in a market member or participant trading, for its own account, ahead of its client, and shall use for that purpose the order book data required to be recorded by the trading venue pursuant to Article 25 of Regulation (EU) No 600/2014, in particular those relating to the way the member or participant conducts its trading activity.

**CHAPTER V — POSITION REPORTING IN COMMODITY DERIVATIVES**
