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2025/1143","number":"2025/1143","celex":"32025R1143","title_official":"COMMISSION DELEGATED REGULATION (EU) 2025/1143 of 12 June 2025 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards on the authorisation and organisational requirements for approved publication arrangements and approved reporting mechanisms, and on the authorisation requirements for consolidated tape providers, and repealing Commission Delegated Regulation (EU) 2017/571 (Text with EEA relevance)","document_date":"2025-06-12"},"position":{"kind":"article","key":"22","index":22,"articles":32,"annexes":0},"prev":{"path":"/mifir/level-2/rts/2025-1143-commission-delegated-regulation-eu-2025-1143-of-12-june/articles/21","key":"21","title":"Article 21 — Information on conflicts of interest (Article 27da(2), point (d), of Regulation (EU) No 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600/2014)","text":"## <a id=\"art-22\"></a>Article 22 — Information on business operativity (Article 27da(2), points (g) and (i), of Regulation (EU) No 600/2014)\n\n1. <a id=\"art-22-p-1\"></a>An applicant seeking authorisation to operate a CT pursuant to Article 27db of Regulation (EU) No 600/2014 shall include in its application the following information:\n\n    <a id=\"art-22-p-1-a\"></a>**(a)** the expected total capital expenditure to develop the CT;\n\n    <a id=\"art-22-p-1-b\"></a>**(b)** the expected operating expenditure to run the CT;\n\n    <a id=\"art-22-p-1-c\"></a>**(c)** a description of the liquid net assets funded by equity to cover potential general business losses in order to continue providing services taking into account the information referred to in points (a) and (b).\n\n1. <a id=\"art-22-p-2\"></a>An applicant seeking authorisation to operate the CT for bonds shall also provide terms of reference, statutes, contracts, or other documentation to demonstrate the 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