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to make pre-trade and post-trade data available separately","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"mifir/art/12/para/1","kind":"paragraph","status":"in_force","label":"1.","heading":null,"text":"Market operators and investment firms operating a trading venue shall make the information published in accordance with Articles 3, 4 and 6 to 11a available to the public by offering pre-trade and post-trade transparency data separately.","marks":[],"revision":1,"text_hash":"add711399db8deb58306a30067e282a164402446c572504594c71758de917314","reason":null},{"locator":"mifir/art/12/para/2","kind":"paragraph","status":"in_force","label":"2.","heading":null,"text":"ESMA shall develop draft regulatory technical standards to specify the offering of pre-trade and post-trade transparency data, including the level of disaggregation of the data to be made available to the public as referred to in paragraph 1.","marks":[],"revision":1,"text_hash":"e1182a29669b02ef241391919163996b4db78fd2b8b23845dfe17597afd52ae4","reason":null},{"locator":"mifir/art/12/para/2/cont/1","kind":"continuation","status":"in_force","label":null,"heading":null,"text":"ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015.","marks":[],"revision":1,"text_hash":"50c76c5634326824be56fc1c157bfccc47f0dfc3b60dbe0cfd3900fcff854d2b","reason":null},{"locator":"mifir/art/12/para/2/cont/2","kind":"continuation","status":"in_force","label":null,"heading":null,"text":"Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.","marks":[],"revision":1,"text_hash":"59af9bd24dd3bddeb2d39a25ec2857535feae726bb4f38354ea530fffb5c3a3c","reason":null}],"markdown":"---\ntitle: \"Article 12 — Obligation to make pre-trade and post-trade data available separately\"\ntype: regulation\nlegal_status: in_force\nsource: \"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0600-20251123\"\nsource_retrieved: 2026-09-30\nshortTitle: \"Article 12 — Obligation to make pre-trade and post-trade data available separately\"\ninstrument_type: level1_regulation\nauthority: Commission\nbinding: true\nbinding_character: binding\nmica_level2: false\nlegal_basis: \"Regulation (EU) No 600/2014\"\ninstrument: mifir\ncelex: \"32014R0600\"\nregulation: MiFIR\nregulation-full: \"Regulation (EU) No 600/2014\"\narticle: 12\nstatus: in_force\nobject_id: eu.mifir.legal_text.article.12\ntext_version: \"Consolidated version of 23 November 2025\"\nsource_url: \"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0600-20251123\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\n---\n\n*In force · Consolidated version of 23 November 2025 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0600-20251123)*\n\n1. <a id=\"p-1\"></a>Market operators and investment firms operating a trading venue shall make the information published in accordance with [Articles 3](3.md), [4](4.md) and [6](6.md) to 11a available to the public by offering pre-trade and post-trade transparency data separately.\n2. <a id=\"p-2\"></a>ESMA shall develop draft regulatory technical standards to specify the offering of pre-trade and post-trade transparency data, including the level of disaggregation of the data to be made available to the public as referred to in paragraph 1.\n\n    ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015.\n\n    Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.\n\n## Related Level 2 and Level 3\n\n### Binding measures\n\n- [2017/572 — RTS — Specification of the offering of pre-and post-trade data \\[in force\\]](../level-2/rts/2017-572-the-specification-of-the-offering-of-pre-and-post-trade.md)\n\n***\n\n[Title II — Transparency for trading venues](../titles/ii.md) · [← Article 11a](11a.md) · [Article 13 →](13.md)\n"}