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Delegated Regulation (EU) 2017/570 · binding · OJ L 87, 31.3.2017 · dated 26 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":"2016-05-26","entry_into_force":"2017-04-20","locators":{"document_date":"CELLAR 32017R0570 work_date_document","entry_into_force":"CELLAR 32017R0570 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifid-ii/level-2/rts/2017-570-the-determination-of-a-material-market-in-terms-of","path":"/mifid-ii/level-2/rts/2017-570-the-determination-of-a-material-market-in-terms-of","name":"Commission Delegated Regulation (EU) 2017/570","number":"2017/570","celex":"32017R0570","title_official":"COMMISSION DELEGATED REGULATION (EU) 2017/570 of 26 May 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards for the determination of a material market in terms of liquidity in relation to notifications of a temporary halt in trading (Text with EEA relevance)","document_date":"2016-05-26"},"position":{"kind":"article","key":"1","index":1,"articles":2,"annexes":0},"prev":null,"next":{"path":"/mifid-ii/level-2/rts/2017-570-the-determination-of-a-material-market-in-terms-of/articles/2","key":"2","title":"Article 2 — Entry into force and application"},"act_anchor":"#art-1"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2017/570/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifid-ii/level-2/rts/2017-570-the-determination-of-a-material-market-in-terms-of.md","unit_text_sha256":"875388561492b35904a118afa2fa473a8f14929d834c38be3961df5e1cc5a6f3","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/2017-570-the-determination-of-a-material-market-in-terms-of/art-1","kind":"article","key":"1","heading":"Article 1 — Material market in terms of liquidity","text":"## <a id=\"art-1\"></a>Article 1 — Material market in terms of liquidity\n\nFor the purposes of the second subparagraph of Article 48(5) of Directive 2014/65/EU, the material market in terms of liquidity shall be considered to be:\\\n**(a)** in respect of shares, depositary receipts, exchange-traded funds, certificates and other similar financial instruments, the trading venue which is the most relevant market in terms of liquidity for the instrument as set out in Article 4 of Commission Delegated Regulation (EU) 2017/587,\n**(b)** in respect of financial instruments other than those set out in point (a) which are admitted to trading on a regulated market, the regulated market where the financial instrument was first admitted to trading;\n**(c)** in respect of financial instruments other than those set out in point (a) which are not admitted to trading on a regulated market, the trading venue where the financial instrument was first traded.\n\n","marks":[],"text_hash":"875388561492b35904a118afa2fa473a8f14929d834c38be3961df5e1cc5a6f3","revision":1}}