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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":"19","index":19,"articles":26,"annexes":5},"prev":{"path":"/mifir/level-2/rts/2025-1155-commission-delegated-regulation-eu-2025-1155-of-12-june/articles/18","key":"18","title":"Article 18 — Methodology for calculating the amount of the revenue to be redistributed to eligible data contributors meeting the criterion under Article 27h(6), point (a), of Regulation (EU) No 600/2014 (Article 27h(6), point (a), (7), point (a), and (8), points (a) and (b), of Regulation (EU) No 600/2014)"},"next":{"path":"/mifir/level-2/rts/2025-1155-commission-delegated-regulation-eu-2025-1155-of-12-june/articles/20","key":"20","title":"Article 20 — Methodology for calculating the amount of revenues to be redistributed to eligible data contributors meeting the criterion under Article 27h(6), point (c), of Regulation (EU) No 600/2014 (Article 27h(6), point (c), (7), point (c), and (8), points (a) and (b), of Regulation (EU) No 600/2014)"},"act_anchor":"#art-19"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2025/1155/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifir/level-2/rts/2025-1155-commission-delegated-regulation-eu-2025-1155-of-12-june.md","unit_text_sha256":"0b46bb05c5a1d4c989b05a7142137331f97e1bd9be341719b965ada2a8d3c6c1","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/mifir/level-2/rts/2025-1155-commission-delegated-regulation-eu-2025-1155-of-12-june/art-19","kind":"article","key":"19","heading":"Article 19 — Methodology for calculating the amount of revenues to be redistributed to eligible data contributors meeting the criterion under Article 27h(6), point (b), of Regulation (EU) No 600/2014 (Article 27h(6), point (b), (7), point (b), and (8), points (a) and (b), of Regulation (EU) No 600/2014)","text":"## <a id=\"art-19\"></a>Article 19 — Methodology for calculating the amount of revenues to be redistributed to eligible data contributors meeting the criterion under Article 27h(6), point (b), of Regulation (EU) No 600/2014 (Article 27h(6), point (b), (7), point (b), and (8), points (a) and (b), of Regulation (EU) No 600/2014)\n\n1. <a id=\"art-19-p-1\"></a>To determine whether an eligible data contributor meets the criterion laid down in Article 27h(6), point (b), of Regulation (EU) No 600/2014, the CTP for shares and ETFs shall, for each eligible data contributor, assess whether such data contributor provided initial admission to trading of shares or ETFs on 27 March 2019 or thereafter. That assessment shall be based on the information published by ESMA in accordance with Article 7(6) of Commission Delegated Regulation (EU) 2017/585.\n\n    The CTP for shares and ETFs shall determine:\\\n\n    <a id=\"art-19-p-1-a\"></a>**(a)** for each eligible data contributor meeting the criterion laid down in Article 27h(6), point (a), of Regulation (EU) No 600/2014, the total annual trading volume generated in shares and ETFs, by summing each transaction record received by that data contributor;\n\n    <a id=\"art-19-p-1-b\"></a>**(b)** for each eligible data contributor not meeting the criterion laid down in Article 27h(6), point (a), of Regulation (EU) No 600/2014, the total annual trading volume pertaining to the shares and ETFs that were initially admitted to trading on 27 March 2019 or thereafter, by summing each relevant transaction record received by that data contributor.\n\n    For the purposes of the calculations referred to in points (a) and (b), transactions shall be single counted.\n\n1. <a id=\"art-19-p-2\"></a>For each eligible data contributor meeting the criterion laid down in Article 27h(6), point (b), of Regulation (EU) No 600/2014, identified by segment MIC, as specified in ISO 10383, or by operating MIC, whenever there is no segment MIC, the CTP for shares and ETFs shall multiply the relevant trading volume generated by that MIC, as determined under paragraph 1, second subparagraph, by a weighting of 4,0.\n\n","marks":[],"text_hash":"0b46bb05c5a1d4c989b05a7142137331f97e1bd9be341719b965ada2a8d3c6c1","revision":1}}