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2025/1156","number":"2025/1156","celex":"32025R1156","title_official":"COMMISSION DELEGATED REGULATION (EU) 2025/1156 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 obligation to make market data available to the public on a reasonable commercial basis (Text with EEA relevance)","document_date":"2025-06-12"},"position":{"kind":"article","key":"4","index":4,"articles":28,"annexes":2},"prev":{"path":"/mifir/level-2/rts/2025-1156-commission-delegated-regulation-eu-2025-1156-of-12-june/articles/3","key":"3","title":"Article 3 — Principles in setting a reasonable margin for market data"},"next":{"path":"/mifir/level-2/rts/2025-1156-commission-delegated-regulation-eu-2025-1156-of-12-june/articles/5","key":"5","title":"Article 5 — Differentials in 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arrangements, and distribution channels.\n1. <a id=\"art-4-p-2\"></a>Market data providers shall apply the same schedule of fees and the same terms and conditions to access market data to all clients requesting access to market data.\n1. <a id=\"art-4-p-3\"></a>Market data providers shall have scalable capacities in place to ensure that market data clients obtain timely access to market data at all times on a non-discriminatory basis.\n1. <a id=\"art-4-p-4\"></a>Market data providers shall offer clients the same set of options with respect to technical arrangements and ensure that technical arrangements neither discriminate nor create any unfair advantage or disadvantage.\n1. <a id=\"art-4-p-5\"></a>Market data providers shall be able to justify any divergences in the provided solutions for access to market data adopted on the basis of valid technical constraints.\n\n","marks":[],"text_hash":"0cfe6265ca3baf996588136cf50803349e8671f5f8cce6167628bee23bbc1dc0","revision":1}}