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In this act Article 5 of 22

Article 5 — Specific characteristics of negotiated transactions (Article 4(1)(b) of Regulation (EU) No 600/2014)

Financial servicesLevel 2RTSMiFIRIn forceOfficial source

A negotiated transaction in shares, depositary receipts, ETF, certificates or other similar financial instruments shall be considered to be a transaction which is negotiated privately but reported under the rules of a trading venue and where any of the following circumstances applies:

5(a)
(a)two members or participants of that trading venue are involved in any of the following capacities:
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5(a)(i)
(i)one is dealing on own account when the other is acting on behalf of a client;
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5(a)(ii)
(ii)both are dealing on own account;
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5(a)(iii)
(iii)both are acting on behalf of a client;
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5(b)
(b)one member or participant of that trading venue is either of the following:
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5(b)(i)
(i)acting on behalf of both the buyer and seller;
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5(b)(ii)
(ii)dealing on own account against a client order.
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