<!-- headlesslaw {"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["2017/579 — RTS — Direct, substantial and foreseeable effect of derivative contracts [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/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/1","url":"https://www.headlesslaw.com/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/1","title":"Article 1 — Definitions","family":"l2_unit_view","work_id":"spaces/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of","view_of":"/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of","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) 2017/579, 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/2017/579/oj/eng","valid_from":"2017-04-20","valid_until":null,"content_id":"c67c187635d7d80f","versions":["2017-04-20"],"version_url":"https://www.headlesslaw.com/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/1/versions/2026-10-26","revision_url":"https://www.headlesslaw.com/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/1/versions/2026-10-26/rev/c67c187635d7d80f","versions_url":"https://www.headlesslaw.com/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/1/versions","relations_url":"https://www.headlesslaw.com/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/1/relations","act_url":"https://www.headlesslaw.com/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of#art-1","source_line":"Commission Delegated Regulation (EU) 2017/579 · 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 32017R0579 work_date_document","entry_into_force":"CELLAR 32017R0579 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of","path":"/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of","name":"Commission Delegated Regulation (EU) 2017/579","number":"2017/579","celex":"32017R0579","title_official":"COMMISSION DELEGATED REGULATION (EU) 2017/579 of 13 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on the direct, substantial and foreseeable effect of derivative contracts within the Union and the prevention of the evasion of rules and obligations (Text with EEA relevance)","document_date":"2016-06-13"},"position":{"kind":"article","key":"1","index":1,"articles":4,"annexes":0},"prev":null,"next":{"path":"/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/2","key":"2","title":"Article 2 — Contracts with a direct, substantial and foreseeable effect within the Union"},"act_anchor":"#art-1"}}} -->
# Article 1 — Definitions

**Commission Delegated Regulation (EU) 2017/579 · binding · OJ L 87, 31.3.2017 · dated 13 Jun 2016 [in force]**

*In force · Commission Delegated Regulation (EU) 2017/579, OJ L 87, 31.3.2017 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg_del/2017/579/oj/eng)*

For the purposes of this Regulation the following definition shall apply:
‘guarantee’ means an explicitly documented legal obligation by a guarantor to cover payments of the amounts due or that may become due pursuant to the OTC derivative contracts covered by that guarantee and entered into by the guaranteed entity in favour of the beneficiary where there is a default as defined in the guarantee or where no payment has been effected by the guaranteed entity.