# Article 5 — Specific characteristics of negotiated transactions (Article 4(1)(b) of Regulation (EU) No 600/2014) **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)* 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: **(a)** two members or participants of that trading venue are involved in any of the following capacities: **(i)** one is dealing on own account when the other is acting on behalf of a client; **(ii)** both are dealing on own account; **(iii)** both are acting on behalf of a client; **(b)** one member or participant of that trading venue is either of the following: **(i)** acting on behalf of both the buyer and seller; **(ii)** dealing on own account against a client order.