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Commission Delegated Regulation (EU) 2017/587 of 14 July 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 transparency requirements for trading venues and investment firms in respect of shares, depositary receipts, exchange-traded funds, certificates and other similar financial instruments and on transaction execution obligations in respect of certain shares on a trading venue or by a systematic internaliser (Text with EEA relevance)

Full documentArticle 11a of 22 · 4 annexes

In this act Article 11a of 22

Article 11a — Quote size below which the pre-trade transparency requirements under Articles 14, 15, 16 and 17 of Regulation (EU) No 600/2014 apply (Article 14(2) of Regulation (EU) No 600/2014)

Financial servicesLevel 2RTSMiFIRIn forceOfficial source

The obligation to make public firm quotes in respect of shares, depositary receipts, ETFs, certificates, and other similar financial instruments shall apply to systematic internalisers when they deal in sizes up to twice the standard market size as determined in accordance with Article 11.

About this text

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

Status: In force
Coverage: 2017/587 — RTS — Transparency requirements for shares [in force]: every English consolidation from 5 Jun 2023. Older wording is not held and is not replaced by any other text. Not covered: national guidance, court decisions.
Freshness: Release a4f2a049 published 1 Nov 2026, 17:41 CET. This article checked word for word against EUR-Lex on 26 Oct 2026.
Shown: The whole article.
Failures: None.
Incomplete: No.
Instrument: Commission Delegated Regulation (EU) 2017/587 (RTS)
CELEX: 32017R0587
OJ reference: OJ L 87, 31.3.2017
Drafted by: ESMA
Legal nature: Binding
Legal basis: Article 4(6), Article 7(2), Article 14(7), Article 20(3), Article 22(4) and Article 23(3) MiFIR
Adopted: 14 July 2016
In force: 20 April 2017
Corrigenda: None in English (CELLAR)
Related instruments: None recorded
Text on this page: Word for word — title and recitals as in the OJ act, articles and annexes as in the consolidated version of 2 March 2026; its 17 tables cell by cell, as laid out in the official text; not reproduced: citations, enacting formula, closing formula and OJ footnotes

Time travel

Versions1

Implements · Level 16

4Waivers for equity instrumentswhole act 7Authorisation of deferred publicationwhole act 14Obligation for systematic internalisers to make public firm quotes in respect of shares, depositary receipts, ETFs, certificates and other similar financial instrumentswhole act 20Post-trade disclosure by investment firms, including systematic internalisers, in respect of shares, depositary receipts, ETFs, certificates and other similar financial instrumentswhole act 22Providing information for the purposes of transparency and other calculationswhole act 23Trading obligation for investment firmswhole act

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