{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["2019/443 — Delegated act — Amending 2017/588 as regards the average daily number [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":"/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily/articles/1","url":"https://www.headlesslaw.com/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily/articles/1","title":"Article 1","family":"l2_unit_view","work_id":"spaces/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily","view_of":"/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily","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":"Commission Delegated Regulation (EU) 2019/443, OJ L 77, 20.3.2019","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/eli/reg_del/2019/443/oj/eng","valid_from":"2019-04-09","valid_until":null,"content_id":"acf6ebc1d4cd089d","versions":["2019-04-09"],"version_url":"https://www.headlesslaw.com/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily/articles/1/versions/2026-10-26","revision_url":"https://www.headlesslaw.com/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily/articles/1/versions/2026-10-26/rev/acf6ebc1d4cd089d","versions_url":"https://www.headlesslaw.com/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily/articles/1/versions","relations_url":"https://www.headlesslaw.com/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily/articles/1/relations","act_url":"https://www.headlesslaw.com/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily#art-1","source_line":"Commission Delegated Regulation (EU) 2019/443 · binding · OJ L 77, 20.3.2019 · dated 13 Feb 2019 [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":"2019-02-13","entry_into_force":"2019-04-09","locators":{"document_date":"CELLAR 32019R0443 work_date_document","entry_into_force":"CELLAR 32019R0443 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily","path":"/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily","name":"Commission Delegated Regulation (EU) 2019/443","number":"2019/443","celex":"32019R0443","title_official":"COMMISSION DELEGATED REGULATION (EU) 2019/443 of 13 February 2019 amending Delegated Regulation (EU) 2017/588 as regards the possibility to adjust the average daily number of transactions for a share where the trading venue with the highest turnover of that share is located outside the Union (Text with EEA relevance)","document_date":"2019-02-13"},"position":{"kind":"article","key":"1","index":1,"articles":2,"annexes":0},"prev":null,"next":{"path":"/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily/articles/2","key":"2","title":"Article 2"},"act_anchor":"#art-1"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2019/443/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily.md","unit_text_sha256":"02793aceb1fc785b5952cf028264b87893f5ca51262dbd705f0a536445248e23","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/mifid-ii/level-2/delegated-acts/2019-443-amending-the-possibility-to-adjust-the-average-daily/art-1","kind":"article","key":"1","heading":"Article 1","text":"## <a id=\"art-1\"></a>Article 1\n\nIn Article 3 of Delegated Regulation (EU) 2017/588, the following paragraphs 8, 9 and 10 are added:\n‘8. The competent authority for a specific share may adjust the average daily number of transactions calculated or estimated by that competent authority for that share in accordance with the procedure set out in paragraphs 1 to 7 where all of the following conditions are met:\\\n**(a)** the trading venue with the highest turnover for that share is located in a third country;\n**(b)** where that average daily number of transactions has been calculated and published in accordance with the procedure set out in paragraphs 1 to 4, it is equal to or greater than one.\nWhen adjusting the average daily number of transactions for a share, the competent authority shall take into account the transactions executed on the third-country trading venue with the highest turnover for trading of that share.\n**9.** The competent authority that adjusted the average daily number of transactions for a share in accordance with paragraph 8 shall ensure the publication of that adjusted average daily number of transactions. Prior to that publication, the competent authority shall communicate the adjusted average daily number of transactions for that share to the competent authorities of the other trading venues operating in the Union where that share is traded.\n**10.** Trading venues shall apply the tick sizes of the liquidity band corresponding to the adjusted average daily number of transactions from the second calendar day after its publication.’.\n\n","marks":[],"text_hash":"02793aceb1fc785b5952cf028264b87893f5ca51262dbd705f0a536445248e23","revision":1}}