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\"ESMA Q&A 1573 — Q&A — Minimum size of orders held in an order management [Answer Published]\"\nshortTitle: \"ESMA Q&A 1573 — Q&A — Minimum size of orders held in an order management [Answer Published]\"\nanswer_id: ESMA_QA_1573\ntopic: \"Pre-trade transparency waivers\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFIR\"\nmifir_level3: true\nmica_level2: false\nlegal_basis: \"Regulation 2017/583- RTS on transparency requirements in respect of non-equity financial instruments (RTS 2)\"\ndate: 7 February 2018\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1573\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 7 February 2018\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1573\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1573: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2018-02-07\"\n  question_submitted_on: \"2018-02-07\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1573, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1573, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 7 Feb 2018 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 7 February 2018 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1573)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1573 — Q&A — Minimum size of orders held in an order management \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1573 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 7 February 2018; question submitted 7 February 2018 |\n| **Legal basis** | Regulation 2017/583- RTS on transparency requirements in respect of non-equity financial instruments (RTS 2) |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Minimum size of orders held in an order management facility for non-equity financial instruments**\n\n### Question\n\nHow should the minimum size of orders held in an order management facility of a trading venue pending disclosure be calculated for non-equity instruments?\n\n***\n\n### Answer\n\n\\[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 5.12\\]\n\nFor the purpose of Article 4(2)(a) of RTS 2 the minimum size of orders held in an order management facility of a trading venue pending disclosure should be calculated according to Table 4 of Annex II of RTS 2 except for emission allowances and emission allowance derivatives for which the notional amount of traded contracts should be used. Please also refer to Q&A 1571 in the Non-equity transparency section of this document.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1573)\n"}