Article 15 — Execution of client orders — compare
Showing 4 of 4Release 2 Nov 2026Details
- Coverage
- MiFIR: every English consolidation from 1 Jan 2022. Older wording is not held and is not replaced by any other text. Not covered: national guidance, court decisions.
- Freshness
- Release c89ff15e published 2 Nov 2026, 05:02 CET. This article checked word for word against EUR-Lex on 26 Oct 2026.
- Shown
- Showing 4 of 4
- Failures
- None.
- Incomplete
- No.
- From
- 1 January 2022 · Consolidated version of 1 January 2022 · Checked against EUR-Lex on 26 Oct 2026 · Official source
- To
- 2 November 2026 · Consolidated version of 28 March 2024 · Checked against EUR-Lex on 26 Oct 2026 · Official source
The quotesSystematic internalisers shall be made public in a manner which is easily accessible to other market participants on a reasonable commercial basisestablish and implement transparent and non-discriminatory rules and objective criteria for the efficient execution of orders. They shall have arrangements for the sound management of their technical operations, including the establishment of effective contingency arrangements to address risks of systems disruption.
5.The CommissionESMA shall be empowered to adopt delegated acts in accordance with Article 50, clarifying what constitutes a reasonable commercial basis to make quotes public asdevelop draft implementing technical standards to determine the content and format of the notification referred to in paragraph 1, second subparagraph.
ESMA shall submit those draft implementing technical standards to the Commission by 29 March 2025.
Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1095/2010.