Article 25 — Obligation to maintain records — compare
Showing 4 of 4Release 1 Nov 2026Details
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- 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.
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- Release a4f2a049 published 1 Nov 2026, 17:41 CET. This article checked word for word against EUR-Lex on 26 Oct 2026.
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- Showing 4 of 4
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- 28 March 2024 · Consolidated version of 28 March 2024 · Checked against EUR-Lex on 26 Oct 2026 · Official source
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- 2 November 2026 · Consolidated version of 4 December 2024 · Checked against EUR-Lex on 26 Oct 2026 · Official source
2.The operator of a trading venue shall keep at the disposal of the competent authority, for at least five years, the relevant data relating to all orders in financial instruments which are advertised through their systems in a machine-readable format and using a common template. The competent authority of the trading venue may request those data on an ongoing basis. The records shall contain the relevant data that constitute the characteristics of the order, including those that link an order with the executed transactions that stem from that order and the details of which shall be reported in accordance with Article 26(1) and (3). ESMA shall perform a facilitation and coordination role in relation to the access by competent authorities to information pursuant tounder this paragraph.
3.ESMA shall develop draft regulatory technical standards to specify the details and formats of the relevant order data that are required to be maintained pursuant tounder paragraph 2 of this Article and that areis not referred to in Article 26.
ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 20155 September 2025.
Power is delegated to the Commission to adopt the supplement this Regulation by adopting regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.