{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["2017/578 — RTS — Requirements on market making agreements and schemes [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/2017-578-the-requirements-on-market-making-agreements-and-schemes/articles/2","url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes/articles/2","title":"Article 2 — Content of market making agreements","family":"l2_unit_view","work_id":"spaces/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes","view_of":"/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"Commission Delegated Regulation (EU) 2017/578, 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/2017/578/oj/eng","valid_from":"2017-04-20","valid_until":null,"content_id":"41b7d6e7e7b75354","versions":["2017-04-20"],"version_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes/articles/2/versions/2026-10-26","revision_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes/articles/2/versions/2026-10-26/rev/41b7d6e7e7b75354","versions_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes/articles/2/versions","relations_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes/articles/2/relations","act_url":"https://www.headlesslaw.com/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes#art-2","source_line":"Commission Delegated Regulation (EU) 2017/578 · binding · OJ L 87, 31.3.2017 · dated 13 Jun 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":"2016-06-13","entry_into_force":"2017-04-20","locators":{"document_date":"CELLAR 32017R0578 work_date_document","entry_into_force":"CELLAR 32017R0578 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes","path":"/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes","name":"Commission Delegated Regulation (EU) 2017/578","number":"2017/578","celex":"32017R0578","title_official":"COMMISSION DELEGATED REGULATION (EU) 2017/578 of 13 June 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 specifying the requirements on market making agreements and schemes (Text with EEA relevance)","document_date":"2016-06-13"},"position":{"kind":"article","key":"2","index":2,"articles":8,"annexes":0},"prev":{"path":"/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes/articles/1","key":"1","title":"Article 1 — Obligation for investment firms to enter into a market making agreement"},"next":{"path":"/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes/articles/3","key":"3","title":"Article 3 — Exceptional circumstances"},"act_anchor":"#art-2"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2017/578/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifid-ii/level-2/rts/2017-578-the-requirements-on-market-making-agreements-and-schemes.md","unit_text_sha256":"9209786c5a0b6d30cce2fbc7a02ecb45eee2350f845098c9e9183157156d764a","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/2017-578-the-requirements-on-market-making-agreements-and-schemes/art-2","kind":"article","key":"2","heading":"Article 2 — Content of market making agreements","text":"## <a id=\"art-2\"></a>Article 2 — Content of market making agreements\n\n1. <a id=\"art-2-p-1\"></a>The content of a binding written agreement referred to in Article 17(3)(b) and Article 48(2) of Directive 2014/65/EU shall include at least:\n\n    <a id=\"art-2-p-1-a\"></a>**(a)** the financial instrument or instruments covered by the agreement;\n\n    <a id=\"art-2-p-1-b\"></a>**(b)** the minimum obligations to be met by the investment firm in terms of presence, size and spread that shall require at least posting firm, simultaneous two-way quotes of comparable size and competitive prices in at least one financial instrument on the trading venue for at least 50 % of daily trading hours of during which continuous trading takes place excluding opening and closing auctions and calculated for each trading day;\n\n    <a id=\"art-2-p-1-c\"></a>**(c)** where appropriate, the terms of the applicable market making scheme;\n\n    <a id=\"art-2-p-1-d\"></a>**(d)** the obligations of the investment firm in relation to the resumption of trading after volatility interruptions;\n\n    <a id=\"art-2-p-1-e\"></a>**(e)** the surveillance, compliance and audit obligations of the investment firm enabling it to monitor its market making activity;\n\n    <a id=\"art-2-p-1-f\"></a>**(f)** the obligation to flag firm quotes submitted to the trading venue under the market making agreement in order to distinguish those quotes from other order flows;\n\n    <a id=\"art-2-p-1-g\"></a>**(g)** the obligation to maintain records of firm quotes and transactions relating to the market making activities of the investment firm, which are clearly distinguished from other trading activities and to make those records available to the trading venue and the competent authority upon request.\n\n1. <a id=\"art-2-p-2\"></a>Trading venues shall continuously monitor the effective compliance of the relevant investment firms with the market making agreements.\n\n","marks":[],"text_hash":"9209786c5a0b6d30cce2fbc7a02ecb45eee2350f845098c9e9183157156d764a","revision":1}}