{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["2017/2194 — Delegated act — Package orders [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":"/mifir/level-2/delegated-acts/2017-2194-package-orders/articles/2","url":"https://www.headlesslaw.com/mifir/level-2/delegated-acts/2017-2194-package-orders/articles/2","title":"Article 2 — Asset-class specific criteria for package orders consisting exclusively of interest rate 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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":"2017-08-14","entry_into_force":"2017-12-18","locators":{"document_date":"CELLAR 32017R2194 work_date_document","entry_into_force":"CELLAR 32017R2194 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifir/level-2/delegated-acts/2017-2194-package-orders","path":"/mifir/level-2/delegated-acts/2017-2194-package-orders","name":"Commission Delegated Regulation (EU) 2017/2194","number":"2017/2194","celex":"32017R2194","title_official":"COMMISSION DELEGATED REGULATION (EU) 2017/2194 of 14 August 2017 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to package orders (Text with EEA relevance)","document_date":"2017-08-14"},"position":{"kind":"article","key":"2","index":2,"articles":6,"annexes":0},"prev":{"path":"/mifir/level-2/delegated-acts/2017-2194-package-orders/articles/1","key":"1","title":"Article 1 — Package orders for which there is a liquid market as a whole"},"next":{"path":"/mifir/level-2/delegated-acts/2017-2194-package-orders/articles/3","key":"3","title":"Article 3 — Asset-class specific criteria for package orders consisting exclusively of equity derivatives"},"act_anchor":"#art-2"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2017/2194/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifir/level-2/delegated-acts/2017-2194-package-orders.md","unit_text_sha256":"239cd3dc1fbbd1bc830fbf7d1d9b7b78b81eec288e08beab259f3c3b45293b58","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/mifir/level-2/delegated-acts/2017-2194-package-orders/art-2","kind":"article","key":"2","heading":"Article 2 — Asset-class specific criteria for package orders consisting exclusively of interest rate derivatives","text":"## <a id=\"art-2\"></a>Article 2 — Asset-class specific criteria for package orders consisting exclusively of interest rate derivatives\n\nThe asset-class specific criteria referred to in Article 1(b)(iv) for package orders consisting exclusively of interest rates derivatives as referred to in Section 5 of Annex III to Delegated Regulation (EU) 2017/583 shall be the following:\\\n**(a)** the package order has no more than three components;\n**(b)** all components of the package order belong to the same sub-asset class as referred to in in Section 5 of Annex III to Delegated Regulation (EU) 2017/583;\n**(c)** all components of the package order are denominated in the same notional currency of either EUR, USD or GBP;\n**(d)** where the package order consists of interest rate swaps, the components of that package order have a tenor of 2, 3, 4, 5, 6, 7, 8, 9, 10, 12, 15, 20 or 30 years;\n**(e)** where the package order consists of interest rate future components, those components are either of the following:\n> **(i)** contracts with a maturity not exceeding 6 months for interest rate futures based on 3 months interest rate;\n> **(ii)** contracts with the expiration date closest to the current date for interest rate futures based on 2, 5 and 10 year interest rates;\n**(f)** where the package order consists of bond futures, the package order replaces a position in a contract that is nearest to expiry with a position in a contract with the same underlying expiring at the next maturity date.\nFor the purpose of point (d), a component of a package order shall be deemed to have a tenor of 2, 3, 4, 5, 6, 7, 8, 9, 10, 12, 15, 20 or 30 years where the period of time between the effective date of the contract and the termination date of the contract equals one of the time periods mentioned in point (d), plus or minus 5 days.\n\n","marks":[],"text_hash":"239cd3dc1fbbd1bc830fbf7d1d9b7b78b81eec288e08beab259f3c3b45293b58","revision":1}}