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2025/1155","number":"2025/1155","celex":"32025R1155","title_official":"COMMISSION DELEGATED REGULATION (EU) 2025/1155 of 12 June 2025 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards specifying the input and output data of consolidated tapes, the synchronisation of business clocks and the revenue redistribution by the consolidated tape provider for shares and ETFs, and repealing Commission Delegated Regulation (EU) 2017/574 (Text with EEA relevance)","document_date":"2025-06-12"},"position":{"kind":"article","key":"17","index":17,"articles":26,"annexes":5},"prev":{"path":"/mifir/level-2/rts/2025-1155-commission-delegated-regulation-eu-2025-1155-of-12-june/articles/16","key":"16","title":"Article 16 — Compliance with the maximum divergence requirements (Article 22c(1) of Regulation (EU) No 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it"},"unit":{"locator":"spaces/mifir/level-2/rts/2025-1155-commission-delegated-regulation-eu-2025-1155-of-12-june/art-17","kind":"article","key":"17","heading":"Article 17 — Determination of the amount of the revenue to be redistributed, of the eligible data contributors, and the relevant assessment periods (Article 27h(6) and (7) of Regulation (EU) No 600/2014)","text":"## <a id=\"art-17\"></a>Article 17 — Determination of the amount of the revenue to be redistributed, of the eligible data contributors, and the relevant assessment periods (Article 27h(6) and (7) of Regulation (EU) No 600/2014)\n\n1. <a id=\"art-17-p-1\"></a>For the purposes of redistributing part of the revenue generated by the consolidated tape to data contributors that meet one or more of the criteria laid down in Article 27h(6) of Regulation (EU) No 600/2014, the CTP for shares and ETFs shall determine:\n\n    <a id=\"art-17-p-1-a\"></a>**(a)** the amount of the revenue to be redistributed, based on the total revenue generated by the consolidated tape over the calculation window, as specified by the CTP; and\n\n    <a id=\"art-17-p-1-b\"></a>**(b)** the list of regulated markets, MTFs, and SME growth markets that transmitted input data over the assessment period, either for the full period or for part of it (the ‘eligible data contributors’).\n\n1. <a id=\"art-17-p-2\"></a>After having determined the amount of revenue to be redistributed and the list of eligible data contributors in accordance with paragraph 1, the CTP for shares and ETFs shall perform the calculations set out in Articles 18 to 21. The CTP for shares and ETFs shall perform such calculations at least on an annual basis and, in any case, before the twentieth day of the month following the calculation window, using the trades recorded by each data contributor over the assessment period. The CTP for shares and ETFs shall apply the resulting percentages of such calculations retroactively over the latest calculation window.\n1. <a id=\"art-17-p-3\"></a>For the purposes of paragraphs 1 and 2, the calculation window shall correspond to each individual period over which part of the revenue of the consolidated tape is redistributed.\n1. <a id=\"art-17-p-4\"></a>For the purposes of paragraph 2, the assessment period shall correspond to the 12 months over which the relevant trading volume to be multiplied by each individual weighting is considered.\n\n","marks":[],"text_hash":"68740e04aa5dac70fa9b921403a6de567d712d9fb76724e62b7f31650019aa04","revision":1}}