{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["2017/568 — RTS — Admission of financial instruments to trading on regulated markets [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/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/articles/2","url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/articles/2","title":"Article 2 — Transferable securities — fair, orderly and efficient trading","family":"l2_unit_view","work_id":"spaces/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on","view_of":"/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on","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) 2017/568, OJ L 87, 31.3.2017","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/eli/reg_del/2017/568/oj/eng","valid_from":"2017-04-20","valid_until":null,"content_id":"bcf5ed08fd47f741","versions":["2017-04-20"],"version_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/articles/2/versions/2026-10-26","revision_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/articles/2/versions/2026-10-26/rev/bcf5ed08fd47f741","versions_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/articles/2/versions","relations_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/articles/2/relations","act_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on#art-2","source_line":"Commission Delegated Regulation (EU) 2017/568 · binding · OJ L 87, 31.3.2017 · dated 24 May 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":"2016-05-24","entry_into_force":"2017-04-20","locators":{"document_date":"CELLAR 32017R0568 work_date_document","entry_into_force":"CELLAR 32017R0568 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on","path":"/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on","name":"Commission Delegated Regulation (EU) 2017/568","number":"2017/568","celex":"32017R0568","title_official":"COMMISSION DELEGATED REGULATION (EU) 2017/568 of 24 May 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the admission of financial instruments to trading on regulated markets (Text with EEA relevance)","document_date":"2016-05-24"},"position":{"kind":"article","key":"2","index":2,"articles":9,"annexes":0},"prev":{"path":"/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/articles/1","key":"1","title":"Article 1 — Transferable securities — freely negotiable"},"next":{"path":"/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/articles/3","key":"3","title":"Article 3 — Transferable securities — official listing"},"act_anchor":"#art-2"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2017/568/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on.md","unit_text_sha256":"70285f380465b188b3b816752f41baaf9a9105e8f54a001a4e2fe39e85110425","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/mifid-ii/level-2/rts/2017-568-the-admission-of-financial-instruments-to-trading-on/art-2","kind":"article","key":"2","heading":"Article 2 — Transferable securities — fair, orderly and efficient trading","text":"## <a id=\"art-2\"></a>Article 2 — Transferable securities — fair, orderly and efficient trading\n\n1. <a id=\"art-2-p-1\"></a>When assessing whether a transferable security is capable of being traded in a fair, orderly and efficient manner, a regulated market shall take into account the information required to be prepared under Directive 2003/71/EC or information that is otherwise publicly available such as:\n\n    <a id=\"art-2-p-1-a\"></a>**(a)** historical financial information;\n\n    <a id=\"art-2-p-1-b\"></a>**(b)** information about the issuer;\n\n    <a id=\"art-2-p-1-c\"></a>**(c)** information providing a business overview.\n\n1. <a id=\"art-2-p-2\"></a>In addition to paragraph 1, when assessing whether a share is capable of being traded in a fair, orderly and efficient manner a regulated market shall take into account the distribution of those shares to the public.\n1. <a id=\"art-2-p-3\"></a>When assessing whether a transferable security referred to in point (c) of Article 4(1)(44) of Directive 2014/65/EU is capable of being traded in a fair, orderly and efficient manner, the regulated market shall take into account, depending on the nature of the security being admitted, whether the following criteria are satisfied:\n\n    <a id=\"art-2-p-3-a\"></a>**(a)** the terms of the security are clear and unambiguous and allow for a correlation between the price of the security and the price or other value measure of the underlying;\n\n    <a id=\"art-2-p-3-b\"></a>**(b)** the price or other value measure of the underlying is reliable and publicly available;\n\n    <a id=\"art-2-p-3-c\"></a>**(c)** there is sufficient information publicly available of a kind needed to value the security;\n\n    <a id=\"art-2-p-3-d\"></a>**(d)** the arrangements for determining the settlement price of the security ensure that this price properly reflects the price or other value measures of the underlying;\n\n    <a id=\"art-2-p-3-e\"></a>**(e)** where the settlement of the security requires or provides for the possibility of the delivery of an underlying security or asset rather than cash settlement, there are adequate settlement and delivery procedures for that underlying as well as adequate arrangements to obtain relevant information about it.\n\n","marks":[],"text_hash":"70285f380465b188b3b816752f41baaf9a9105e8f54a001a4e2fe39e85110425","revision":1}}