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---
title: "ESMA Q&A 1713 — Q&A — Order Record Keeping [Answer Published]"
shortTitle: "ESMA Q&A 1713 — Q&A — Order Record Keeping [Answer Published]"
answer_id: ESMA_QA_1713
topic: "ESMA70-1861941480-56 Questions and Answers on MiFIR reporting"
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: "MiFIR"
date: 7 July 2017
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1713
lifecycle: "Answer Published"
text_version: "ESMA Q&A register, 7 July 2017"
source_url: "https://www.esma.europa.eu/publications-data/questions-answers/1713"
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_1713: field 'ESMA Answer', no 'Answer provided by' line"
document_type: "qa_answer"
legal_nature: "not_legislation"
addressees: "not stated in the document"
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  published_on: "2017-07-07"
  question_submitted_on: "2017-07-07"
  locators:
    published_on: "ESMA Q&A Excel export ESMA_QA_1713, column 'Esma responses', date line"
    question_submitted_on: "ESMA Q&A Excel export ESMA_QA_1713, column 'Date of submission'"
lifecycle_label: "Answer Published"
---

**Answer by ESMA, published in its Q&A tool · not legislation · published 7 Jul 2017 [Answer Published]**

*Answer Published · ESMA Q&A register, 7 July 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1713)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1713 — Q&A — Order Record Keeping \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1713 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 7 July 2017; question submitted 7 July 2017 |
| **Legal basis** | MiFIR |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**Order Record Keeping**

### Question

Are actionable indications of interest subject to the order record keeping requirements for Investment Firms and trading venues under Article 25(1) and (2) of MiFIR?

***

### Answer

\[ESMA 70-1861941480-56 MiFIR data reporting Q&A, Q&A 25.1\]

Yes. An “actionable indication of interest” is defined in Article 2(1)(33) of MiFIR as “a message from one member or participant to another within a trading system in relation to available trading interest that contains all necessary information to agree on a trade”. Actionable indications of interest are subject to pre-trade transparency requirements under Articles 3(1) and 8(1) of MiFIR, along with current bid and offer prices and the depth of trading interests at those prices. To ensure that relevant and sufficient data is kept at the disposal of competent authorities, paragraphs 1 and 2 of Article 25 of MiFIR set out the obligation on investment firms and trading venues to maintain records of, amongst others, the relevant data relating to these orders, including actionable indications of interest.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1713)