CHAPTER 3U.K.Obligation to offer trade data on a separate and reasonable commercial basis
Article 12U.K.Obligation to make pre-trade and post-trade data available separately
1.Market operators and investment firms operating a trading venue shall make the information published in accordance with [F1, or with rules made under,] Articles 3, 4 and 6 to 11 available to the public by offering pre-trade and post-trade transparency data separately.
2.[F2 The FCA may make] technical standards to specify the offering of pre-trade and post-trade transparency data, including the level of disaggregation of the data to be made available to the public as referred to in paragraph 1.
F3...
F3...
Textual Amendments
F1Words in Art. 12(1) inserted (1.12.2024) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 20 (with s. 2(3)); S.I. 2024/1071, reg. 4(b)(v)
F2Words in Art. 12(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 27(6)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in Art. 12(2) omitted (31.12.2020) by virtue of The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 27(6)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Article 13U.K.Obligation to make pre-trade and post-trade data available on a reasonable commercial basis
1.Market operators and investment firms operating a trading venue shall make the information published in accordance with [F4, or with rules made under,] Articles 3, 4 and 6 to 11 available to the public on a reasonable commercial basis and ensure non-discriminatory access to the information. Such information shall be made available free of charge 15 minutes after publication.
2.[F5 The Treasury may by regulations clarify] what constitutes a reasonable commercial basis to make information public as referred to in paragraph 1.
Textual Amendments
F4Words in Art. 13(1) inserted (1.12.2024) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 21 (with s. 2(3)); S.I. 2024/1071, reg. 4(b)(vi)
F5Words in Art. 13(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 27(7) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)