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---
title: "ESMA Q&A 1573 — Q&A — Minimum size of orders held in an order management [Answer Published]"
shortTitle: "ESMA Q&A 1573 — Q&A — Minimum size of orders held in an order management [Answer Published]"
answer_id: ESMA_QA_1573
topic: "Pre-trade transparency waivers"
status: "Answer Published"
type: qa
instrument_type: qa
authority: ESMA
binding: false
binding_character: non_binding
legal_status: in_force
regulation: "MiFIR"
mifir_level3: true
mica_level2: false
legal_basis: "Regulation 2017/583- RTS on transparency requirements in respect of non-equity financial instruments (RTS 2)"
date: 7 February 2018
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1573
lifecycle: "Answer Published"
text_version: "ESMA Q&A register, 7 February 2018"
source_url: "https://www.esma.europa.eu/publications-data/questions-answers/1573"
check_status: matched
verified: true
last_checked: 2026-10-26
checked_against: "the ESMA publication"
source:
  prepared_by: "ESMA"
  published_by: "ESMA"
  published_in: "ESMA Q&A tool"
  evidence:
    prepared_by: "ESMA Answer"
    locator: "ESMA Q&A entry ESMA_QA_1573: field 'ESMA Answer', no 'Answer provided by' line"
document_type: "qa_answer"
legal_nature: "not_legislation"
addressees: "not stated in the document"
dates:
  published_on: "2018-02-07"
  question_submitted_on: "2018-02-07"
  locators:
    published_on: "ESMA Q&A Excel export ESMA_QA_1573, column 'Esma responses', date line"
    question_submitted_on: "ESMA Q&A Excel export ESMA_QA_1573, column 'Date of submission'"
lifecycle_label: "Answer Published"
---

**Answer by ESMA, published in its Q&A tool · not legislation · published 7 Feb 2018 [Answer Published]**

*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)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1573 — Q&A — Minimum size of orders held in an order management \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1573 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 7 February 2018; question submitted 7 February 2018 |
| **Legal basis** | Regulation 2017/583- RTS on transparency requirements in respect of non-equity financial instruments (RTS 2) |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**Minimum size of orders held in an order management facility for non-equity financial instruments**

### Question

How should the minimum size of orders held in an order management facility of a trading venue pending disclosure be calculated for non-equity instruments?

***

### Answer

\[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 5.12\]

For 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.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1573)