MiFID II / MiFIR Delegated Acts, Regulatory and Implementing Technical Standards update

Publication July 2016

The table provides an overview of the MiFID II / MiFIR Delegated Acts, Regulatory and Implementing Technical Standards and their current status.

RTS/ITSLegal BasisAdoption by the European CommissionLinks to the draft RTSs that are still not adopted by the European CommissionLinks to the Acts as adopted by the European CommissionEnd of EP/Council scrutinyPublished in the Official Journal

RTS 1:  Transparency requirements for trading venues and investment firms in respect of shares, depositary receipts, exchange- traded funds, certificates and other similar financial instruments (Commission Delegated Regulation (EU) 2017/587)

MiFIR Articles 4(6), 7(2), 14(7), 20(3), 22(4) and 23(3)

 

14/07/2016
C(2016) 4390

 

RTS 1 16/08/2016 RTS 1 published in the Official Journal
Annex to RTS 1
RTS 2:  Transparency requirements for trading venues and investment firms in respect of bonds, structured finance products, emission allowances and derivatives (Commission Delegated Regulation (EU) 2017/583) MiFIR Articles 1(8), 9(5), 11(4), 21(5) and 22(4) 14/07/2016
C(2016) 4301

 

RTS 2 16/08/2016 RTS 2 published in the Official Journal
Annex to RTS 2
RTS 3: The volume cap mechanism and the provision of information for the purposes of transparency and other calculations (Commission Delegated Regulation (EU) 2017/577) MiFIR Articles 5(9) and 22(4) 13/06/2016
C(2016) 2711
  RTS 3 13/07/2016 RTS 3 published in the Official Journal
  Annex to RTS 3
RTS 4: Criteria for determining whether derivatives subject to the clearing obligation should be subject to the trading obligation (Commission Delegated Regulation (EU) 2016/2020) MiFIR Article 32(6) 26/05/2016
C(2016) 2710
  RTS 4 27/08/2016 RTS 4 published in the Official Journal
RTS 5: Direct, substantial and foreseeable effect of derivative contracts within the Union (Commission Delegated Regulation (EU) 2017/579) MiFIR Article 28(5) 13/06/2016
C(2016) 3544
  RTS 5 13/07/2016 RTS 5 published in the Official Journal
RTS 6: Specifying the organisational requirements of investment firms engaged in algorithmic trading (Commission Delegated Regulation (EU) 2017/589) MiFID Article 17(7)(a) and (d)  19/07/2016
C(2016) 4478

 

RTS 6 19/08/2016 RTS 6 published in the Official Journal
Annex to the RTS 6
RTS 7: Specifying organisational requirements of facilities trading venues allowances and derivatives (Commission Delegated Regulation (EU) 2017/584) MiFID Article 48(12)(a),(c) and (g) 14/07/2016
C(2016) 4387

 

RTS 7 16/08/2016 RTS 7 published in the Official Journal
Annex to RTS 7
RTS 8: Specifying the requirements on market making agreements and schemes (Commission Delegated Regulation (EU) 2017/578) MiFID Article 17(7)(a), (b) and
(c) and Article 48(12)(a) and (f)
13/06/2016
C(2016) 3523
  RTS 8 13/07/2016 RTS 8 published in the Official Journal
RTS 9: The ratio of unexecuted orders to transactions (Commission Delegated Regulation (EU) 2017/566) MiFID Article 48(12)(b) 18/05/2016
C(2016) 2775
  RTS 9 18/08/2016 RTS 9 published in the Official Journal
Annex to RTS 9
RTS 10: Requirements to ensure fair and non- discriminatory co-location services and fee structures (Commission Delegated Regulation (EU) 2017/573) MiFID Article 48(12)(d) 06/06/2016
C(2016) 3266
  RTS 10 06/07/2016 RTS 10 published in the Official Journal
RTS 11: Tick size regime for shares, depositary receipts and, exchange traded funds (Commission Delegated Regulation (EU) 207/588)
 
MiFID Article 49(3) and (4) 14/07/2016
C(2016) 4387
  RTS 11 16/08/2016 RTS 11 published in the Official Journal
Annex to RTS 11
RTS 12: Determination of a material market in terms of liquidity relating to halt notifications (Commission Delegated Regulation (EU) 2017/570) MiFID Article 48(12)(e) 26/05/2016
C(2016)3020
  RTS 12 26/08/2016 RTS 12 published in the Official Journal
RTS 13: Authorisation, organisational requirements and the publication of transactions for data reporting services providers (Commission Delegated Regulation (EU) 2017/571) MiFID Articles 61(4), 64(6),(8), 65(6), (8), and 66(5) 02/06/2016
C(2016)3201
  RTS 13 04/07/2016 RTS 13 published in the Official Journal
Delegated Regulation amending RTS 13 Commission Delegated Regulation (EU) 2018/63 amending RTS 13
RTS 14: Specification of the offering of pre-and post-trade data and the level of disaggregation of data (Commission Delegated Regulation 2017/572) MiFIR Article 12(2) 02/06/2016
C(2016) 3206
  RTS 14 04/07/2016 RTS 14 published in  the Official Journal
RTS 15: Clearing access in respect of trading venues and central counterparties (Commission Delegated Regulation (EU) 2017/581) MiFIR Articles 35(6) and 36(6) 24/06/2016
C(2016) 3807
  RTS 15 24/07/2016 RTS 15 published in the Official Journal
Annex to RTS 15
RTS 16:  Access in respect of benchmarks (Commission Delegated Regulation (EU) 2016/2021) MiFIR Article 37(4) (a), (b), and (c) 02/06/2016
C(2016) 3203
  RTS 16 04/07/2016 RTS 16 published in the Official Journal
RTS 17: Admission of financial instruments to trading on regulated markets (Commission Delegated Regulation (EU) 2017/568) MiFIR 3rd subpara Article 51(6) 24/05/2016
C(2016) 3017
  RTS 17 24/08/2016 RTS 17 published in the Official Journal
RTS 18: Suspension and removal of financial instruments from trading reporting services providers (Commission Delegated Regulation (EU) 2017/ 569) MiFID 10th subpara of Article 32(2) and the 10th subpara of Article 52(2) 24/05/2016
C(2016) 3014
  RTS 18 24/08/2016 RTS 18 published in  the Official Journal
ITS 19: Description of the functioning of MTFs and OTFs (Commission Delegated Regulation (EU) 2016/824) MiFID 3rd subpara of Article 18(11) 24/05/2016
C(2016) 3019
    N/A ITS 19 published in the Official Journal
RTS 20: Criteria to establish when an activity is considered to be ancillary to the main business (Commission Delegated Regulation (EU) 2017/592) MiFID Article 2(4)  1/12/2016
C(2016)7643
 RTS 20  01/03/2017 RTS 20 published in the Official Journal
RTS 21: Application of position limits to commodity derivatives (Commission Delegated Regulation (EU) 2017/591) MiFID Article 57(3) and (12)  1/12/2016
C(2016)4362
 RTS 21  01/03/2017 RTS 21 published in the Official Journal
RTS 22: Reporting of transactions to competent authorities (Commission Delegated Regulation (EU) 2017/590) MiFIR 3rd subpara of Article 26(9) 28/07/2016  C(2016) 4733   RTS 22  22/11/2016 RTS 22 published in the Official Journal
Annex to RTS 22
RTS 23: Supply of financial instruments reference data (Commission Delegated Regulation (EU) 2017/585) MiFIR the 3rd subpara of Article 27(3) 14/07/2016
C(2016) 4405
  RTS 23 16/08/2016 RTS 23 published in the Official Journal
Annex to RTS 23
RTS 24: Maintenance of relevant data relating to orders in financial instruments (Commission Delegated Regulation (EU) 2017/580) MiFIR 4th subpara of Article 25(3) 24/06/2016
C(2016) 3821
  RTS 24 24/07/2016 RTS 24 published in the Official Journal
Annex to RTS 24
RTS 25: Clock synchronisation (Commission Delegated Regulation (EU) 2017/574) MiFID 3rd subpara of Article 50(2) 07/06/2016
C(2016) 3316
  RTS 25 07/07/2016 RTS 25 published in the Official Journal
Annex to RTS 25
RTS 26: Specifying the obligation to clear derivatives traded on regulated markets and timing of acceptance for clearing (STP) (Commission Delegated Regulation (EU) 2017/582) MiFIR Article 29(3) 29/06/2016
C(2016) 3944
  RTS 26 29/07/2016 RTS 26 published in the Official Journal
RTS 27: Data to be provided by execution venues on the quality of execution of transactions (Commission Delegated Regulation (EU) 2017/575) MiFID point (a) of the 1st subpara of Article 27(10) 08/06/2016
C(2016) 3333/4
  RTS 27 08/07/2016 RTS 27 published in the Official Journal
Annex to RTS 27
RTS 28: Annual publication by investment firms of information on the identity of execution venues and on the quality of execution (Commission Delegated Regulation (EU) 2017/576) MiFID point (b) of the 1st subpara of Article 27(10) 08/07/2016
C(2016) 3337/3
  RTS 28 08/07/2016 RTS 28 published in the Official Journal
Annex to RTS 28
Commission Delegated Directive (EU) 2017/593 (safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions and any monetary or non-monetary benefits)  MiFID Article 16(12) and Article 24(13) 07/04/2016
C(2016)
2013
  Commission Delegated Directive 07/07/2016 – can be extended for further 3 months until 07/10/2016 Commission Delegated Directive (safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions and any monetary or non-monetary benefits) published in the Official Journal
Commission Delegated Regulation (EU) 2017/565(organisational requirements and operating conditions for investment firms and defined terms) MiFID Article 2(3), and 2nd para of Articles 4(1), 4(2), 16(12), 23(4), 24(13), 25(8), 27(9), 28(3), 30(5), 31(4), 32(4), 33(8), 52(4), 54(4), 58(6), 64(7), 65(7), 79(8) 25/04/2016
C(2016)
2398
  Commission Delegated Regulation 25/07/2016 – can be extended for further 3 months until 25/10/2016

Commission Delegated Regulation (organisational requirements and operating conditions for investment firms and defined terms) published in the Official Journal

Commission Delegated Regulation (EU) 2017/2295 of 28 August 2017 amending Delegated Regulation (EU) 2017/565 as regards the specification of the definition of systematic internalisers for the purposed of Directive 2014/65/EU

Commission Delegated Regulation Annex

Commission Delegated Regulation (EU) 2017/567 (definitions, transparency, portfolio compression and supervisory measures on product interventions and positions)

MiFIR Article 2(2), 13(2), 15(5), 17(3), 19(2), 19(3), 31(4), 40(8), 41(8), 42(7), 45(10) 18.05.2016
C(2016) 2860
  Commission Delegated Regulation  18/06/2016 Commission Delegated Regulation (definitions, transparency, portfolio compression and supervisory measures on product interventions and positions)

Commission Delegated Regulation (EU) 2017/1799 (exemption of certain third countries central banks in their performance of monetary, foreign exchange and financial stability policies from pre- and post-trade transparency requirements

MiFIR Article 1(9) Commission Delegated Regulation (exemption of certain third countries central banks in their performance of monetary, foreign exchange and financial stability policies from pre- and post-trade transparency requirements

RTS: Authorisation (Commission Delegated Regulation (EU) 2017/1943)

MiFID Article 7(4) 14/07/2016
C(2016) 4417
  RTS: Authorisation 16/08/2016  RTS: Authorisation
ITS: Authorisation (Commission Implementing Regulation (EU) 2017/1945) MiFID 3rd subpara of Article 7(5)   ESMA’s Final Report (MiFID II/MiFIR draft Technical Standards) page 32      ITS: Authorisation
RTS: Passporting (Commission Delegated Regulation (EU) 2017/1018) MiFID 3rd subpara of Articles 34(8) and the 3rd subpara or Article 35(11) 29/06/2016
C(2016) 3917
  RTS: Passporting 29/07/2016 RTS: Passporting published in the Official Journal
Corrigendum to RTS on passporting

ITS: Standard forms, templates and procedures for the transmission of information (Commission Implementing Regulation (EU) 2017/2382)

MiFID Articles 34(9) and 35(12)   ESMA’s Final Report (MiFID II/MiFIR draft Technical Standards) page 56    

ITS: Standard forms, templates and procedures for the transmission of information

Corrigendum to ITS on standard forms, templates and procedures for the transmission of information

RTS: Cooperation between authorities (Commission Delegated Regulation (EU) 2017/586) MiFID Article 80(3) 14/07/2016
C(2016) 4415
  RTS: Cooperation between authorities 16/08/2016 RTS: Cooperation between authorities
RTS: Registration of third country firms (Commission Delegated Regulation (EU) 2016/2022) MiFIR Article 46(7) 14/07/2016
C(2016)4407
  RTS: Registration of third country firms 16/08/2016 RTS: Registration of third country firms in the Official Journal
RTS: An exhaustive list of information to be included by proposed acquirers in the notification of a proposed acquisition of a qualifying holding in an investment firm (Commission Delegated Regulation (EU) 2017/1946) MiFID I Article 10(a)(8)

 11/07/2017
C(2017) 4644

RTS: An exhaustive list of information to be included by proposed acquirers in the notification of a proposed acquisition of a qualifying holding in an investment firm   RTS: An exhaustive list of information to be included by proposed acquirers in the notification of a proposed acquisition of a qualifying holding in an investment firm

RTS: Indirect clearing (Commission Delegated Regulation (EU) 2017/2154)

MiFIR Article 30(2)

22/09/2017

C(2017) 6268

RTS: Indirect clearing

RTS: Indirect clearing

RTS:

Package orders (Commission Delegated Regulation (EU) 2017/2194

MiFIR Article
9(6)

Package orders

RTS: Package orders

RTS: Trading obligation for certain derivatives (Commission Delegated Regulation (EU) 2017/2417)

MiFIR Article 32(1)

17/11/2017

C(2017) 7684

RTS: the trading obligation for certain derivatives

RTS: Trading obligation for certain derivatives

ITS: Standard forms, templates and procedures for the consultation process between relevant competent authorities in relation to the notification of a proposed acquisition of a qualifying holding in an investment firm (Commission Delegated Regulation (EU) 2017/1944) MiFID I 6th subpara of Article 10(a)(8)   ESMA’s Final Report (Annex 4) page 30     ITS: Standard forms, templates and procedures for the consultation process between relevant competent authorities in relation to the notification of a proposed acquisition of a qualifying holding in an investment firm
ITS 1: Standard forms, templates and procedures for cooperation arrangements (Commission Implementing  Regulation (EU) 2017/988) MiFID II Article 79(9) ITS 1 published in the Official Journal
ITS 2: Suspension and removal of financial instruments from trading on RM, a MTF or OTF (Commission Implementing Regulation (EU) 2017/1005) MiFID II Article 32(3) and 52 (3) ITS 2 published in the Official Journal
ITS 3: Standard forms, templates and procedures for the authorisation of data reporting services providers (Commission Implementing Regulation (EU) 2017/1110 MiFID II Article 61(5) ITS 3 published in the Official Journal
ITS 4: Position reporting (Commission Implementing Regulation (EU) 2017/1093) MiFID II Article 58(5) ITS 4 published in the Official Journal
ITS 5: Format and timing of weekly position reports (Commission Implementing Regulation (EU) 2017/953) MiFID II Article 58(7) ITS 5 published in the Official Journal
ITS 6: Standard forms, templates and procedures for competent authorities to cooperate in supervisory activities, on-site verifications and investigations and for the exchange of information (Commission Implementing Regulation (EU) 2017/980) MiFID II Article 80(4) and 81(4) ITS 6 published in the Official Journal
ITS 7: standard forms, templates and procedures for the consultation of other competent authorities prior to granting an authorisation (Commission Implementing Regulation (EU) 2017/981) MiFID II Article 84(4) ITS 7 published in the Official Journal
ITS 8: Procedures and forms for submitting information on sanctions and measures (Commission Implementing Regulation (EU) 2017/1111) MiFID II Article 71(7) ITS 8 published in the Official Journal

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