# ANNEX II **Commission Delegated Regulation (EU) 2017/587 · binding · OJ L 87, 31.3.2017 · dated 14 Jul 2016 [in force]** *In force · Consolidated version of 2 March 2026 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02017R0587-20260302)* Orders large in scale compared with normal market size, standard market sizes and deferred publications and delays Table 1 Orders large in scale compared with normal market size for shares and depositary receipts
Average daily turnover (ADT) in EURADT < 50 00050 000 ≤ ADT < 100 000100 000 ≤ ADT < 500 000500 000 ≤ ADT < 1 000 0001 000 000 ≤ ADT < 5 000 0005 000 000 ≤ ADT < 25 000 00025 000 000 ≤ ADT < 50 000 00050 000 000 ≤ ADT < 100 000 000ADT ≥ 100 000 000
Minimum size of orders qualifying as large in scale compared with normal market size in EUR15 00030 00060 000100 000200 000300 000400 000500 000650 000
Table 2 Orders large in scale compared with normal market size certificates and other similar financial instruments
Average daily turnover (ADT) in EURADT < 50 000ADT ≥ 50 000
Minimum size of orders qualifying as large in scale compared with normal market size in EUR15 00030 000
Table 3 Standard market sizes for shares and depositary receipts | Average value of transactions (AVT) in EUR | AVT bucket \[0 -10 000 ) | AVT bucket \[10 000 -12 000 ) | AVT bucket \[12 000 -14 000 ) | AVT bucket \[14 000 -16 000 ) | AVT bucket \[16 000 -18 000 ) | AVT bucket \[18 000 -20 000 ) | AVT bucket \[20 000 -40 000 ) | AVT bucket \[40 000 -60 000 ) | Etc. | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Standard market size | 5 000 | 11 000 | 13 000 | 15 000 | 17 000 | 19 000 | 30 000 | 50 000 | Etc. | Table 3a Standard market sizes for ETFs, certificates and other similar financial instruments | Average value of transactions (AVT) in EUR | AVT bucket \[0 -10 000 ) | AVT bucket \[10 000 -15 000 ) | AVT bucket \[15 000 -20 000 ) | AVT bucket \[20 000 -25 000 ) | AVT bucket \[25 000 -30 000 ) | AVT bucket \[30 000 -35 000 ) | AVT bucket \[35 000 -40 000 ) | AVT bucket \[40 000 -60 000 ) | Etc. | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Standard market size | 5 000 | 12 500 | 17 500 | 22 500 | 27 500 | 32 500 | 37 500 | 50 000 | Etc. | Table 4 Deferred publication thresholds and delays for shares and depositary receipts
Average daily turnover (ADT) in EURMinimum qualifying size of transaction for permitted delay in EURTiming of publication after the transaction
> 100 m10 000 00060 minutes
20 000 000120 minutes
35 000 000End of the trading day
50 m-100 m7 000 00060 minutes
15 000 000120 minutes
25 000 000End of the trading day
25 m-50 m5 000 00060 minutes
10 000 000120 minutes
12 000 000End of the trading day
5 m-25 m2 500 00060 minutes
4 000 000120 minutes
5 000 000End of the trading day
1 m-5 m450 00060 minutes
750 000120 minutes
1 000 000End of the trading day
500 000 -1 m75 00060 minutes
150 000120 minutes
225 000End of the trading day
100 000 -500 00030 00060 minutes
80 000120 minutes
120 000End of the trading day
50 000 -100 00015 00060 minutes
30 000120 minutes
50 000End of the trading day
< 50 0007 50060 minutes
15 000120 minutes
25 000End of the next trading day
Table 5 Deferred publication thresholds and delays for ETFs | Minimum qualifying size of transaction for permitted delay in EUR | Timing of publication after the transaction | | --- | --- | | 15 000 000 | 60 minutes | | 50 000 000 | End of the trading day | Table 6 Deferred publication thresholds and delays for certificates and other similar financial instruments
Average daily turnover (ADT) in EURMinimum qualifying size of transaction for permitted delay in EURTiming of publication after the transaction
ADT < 50 00015 000120 minutes
30 000End of the trading day
ADT ≥ 50 00030 000120 minutes
60 000End of the trading day