<!-- headlesslaw {"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-20","gaps":[],"covered":["2025/1246 — RTS — Transparency requirements for bonds [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-20","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june/annexes/annex-i","url":"https://www.headlesslaw.com/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june/annexes/annex-i","title":"ANNEX I","family":"l2_unit_view","work_id":"spaces/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june","view_of":"/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"Commission Delegated Regulation (EU) 2025/1246, OJ L, 2025/1246, 3.11.2025","check":{"against":"EUR-Lex","on":"2026-10-20"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/eli/reg_del/2025/1246/oj/eng","valid_from":"2025-11-23","valid_until":null,"content_id":"769ddd7cb09199c1","versions":["2025-11-23"],"version_url":"https://www.headlesslaw.com/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june/annexes/annex-i/versions/2026-10-20","revision_url":"https://www.headlesslaw.com/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june/annexes/annex-i/versions/2026-10-20/rev/769ddd7cb09199c1","versions_url":"https://www.headlesslaw.com/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june/annexes/annex-i/versions","relations_url":"https://www.headlesslaw.com/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june/annexes/annex-i/relations","act_url":"https://www.headlesslaw.com/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june#annex-i","source_line":"Commission Delegated Regulation (EU) 2025/1246 · binding · OJ L, 2025/1246, 3.11.2025 · dated 18 Jun 2025 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2025-06-18","published_on":"2025-11-03","entry_into_force":"2025-11-23","locators":{"document_date":"CELLAR 32025R1246 work_date_document","published_on":"CELLAR 32025R1246 official-journal-act_date_publication","entry_into_force":"CELLAR 32025R1246 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june","path":"/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june","name":"Commission Delegated Regulation (EU) 2025/1246","number":"2025/1246","celex":"32025R1246","title_official":"COMMISSION DELEGATED REGULATION (EU) 2025/1246 of 18 June 2025 amending the regulatory technical standards laid down in Delegated Regulations (EU) 2017/583 and (EU) 2017/587 as regards transparency requirements for trading venues and investment firms in respect of bonds, structured finance products, emission allowances, and equity instruments (Text with EEA relevance)","document_date":"2025-06-18"},"position":{"kind":"annex","key":"annex-i","index":1,"articles":3,"annexes":5},"prev":{"path":"/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june/articles/3","key":"3","title":"Article 3 — Entry into force and application"},"next":{"path":"/mifir/level-2/rts/2025-1246-commission-delegated-regulation-eu-2025-1246-of-18-june/annexes/annex-ii","key":"annex-ii","title":"ANNEX II"},"act_anchor":"#annex-i"}}} -->
# ANNEX I

**Commission Delegated Regulation (EU) 2025/1246 · binding · OJ L, 2025/1246, 3.11.2025 · dated 18 Jun 2025 [in force]**

*In force · Commission Delegated Regulation (EU) 2025/1246, OJ L, 2025/1246, 3.11.2025 · Checked against EUR-Lex on 20 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg_del/2025/1246/oj/eng)*

<a id="annex-i"></a>‘ANNEX I
Types of system and the related information to be made public in accordance with Article 2

<!-- table: t01 -->
<!-- lint: table-cell-ok — verbatim table of the official text, rendered from its table file -->
| Type of system | Information to be made public |
| --- | --- |
| Continuous order book trading system | For each financial instrument, the aggregate number of orders and the volume they represent at each price level, for at least the five best bid and offer price levels. |
| Periodic auction trading system | For each financial instrument, the price at which the auction trading system would best satisfy its trading algorithm and the volume that would potentially be executable at that price by participants in that system. |
<!-- /table -->

’
