Art. 27h

in force 2025-01-17 MODIFIED±0§

Amended by Regulation (EU) 2022/2554 32022R2554

applies from: unknown

Sources disagree — the EU's own amendment metadata and the amending act's instructions found this change; the text comparison finds no difference in the provision's text. All are shown; none is overruled.

No explanation shipped — the structural diff did not see this change, so it carries no text; another signal named the unit and the disagreement ships as `disputed`.

in force 2024-03-28 MODIFIED§

Amended by Regulation (EU) 2024/791 32024R0791

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2019-03-27, 2024-12-29

The provision was rewritten entirely, replacing the earlier requirements to collect and publish transaction data with a new set of duties covering data collection by asset class, free access for retail investors, academics, civil society organisations and competent authorities, dissemination as core market data and regulatory data, error-checking of contributor data, and competition-distortion safeguards where a CTP is controlled by a group of economic operators.

The new text also adds provisions on service level standards, security arrangements between contributors, the CTP and users, published lists of covered instruments, and a revenue redistribution scheme for shares and ETFs based on defined criteria and weightings to be specified by ESMA regulatory technical standards.

The earlier paragraphs on conflicts of interest, reasonable commercial basis for data access, and the list of specific data fields to be published have been removed and are not present in the revised text.

Cited: Art. 27h, v1 · Art. 27h, v2

text before / after, on the event page →

in force 2022-01-01 INSERTED§

Amended by Regulation (EU) 2019/2175 32019R2175 · Regulation (EU) 2022/858 32022R0858

applies from: unknown (an inserted provision states its own application date only in prose)

Sources disagree — the text comparison found this change; the EU's own amendment metadata does not list it. Both are shown; neither is overruled.

Article 27h is a newly inserted provision setting out organisational requirements for CTPs, covering how they must collect, consolidate and disseminate published trade information, the specific data fields to be included, conflict-of-interest safeguards, security and resourcing obligations, and mandates for ESMA and the Commission to develop related technical standards and delegated acts.

Cited: Art. 27h, v2

text before / after, on the event page →