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🔗 Back to Summary. 🇫🇷 French Version: 2025R0417_FR.2. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 1 – General principles of presentation of the information on operating rules for trading platforms ⬅️ | ➡️ Article 3 – Post-trade transparency
Références LVL1 <=> LVL2
Level 1 reference(s): 2023R1114_EN.76 > 16#a
Article 2 - Pre-trade transparency
1.
Crypto-asset service providers operating a trading platform for crypto-assets shall make public any bid and ask prices and the depth of trading interest at those prices, as referred to in 2023, in accordance with the type of trading systems they operate as listed in Table 1 of Annex I to this Regulation.
2.
When the objective market conditions referred to in point (a) occur, crypto-asset service providers operating a trading platform for crypto-assets shall make public the orders that meet all of the following conditions:
(a)
the orders are contingent on the occurrence of objective market conditions which are pre-defined by the trading system’s protocol;
(b)
the orders cannot interact with other trading interests prior to the disclosure to the order book operated by the trading platform;
(c)
once disclosed to the order book, the orders interact with other orders in accordance with the rules applicable to orders of that kind at the time of disclosure.
3.
Crypto-asset service providers operating a trading platform for crypto-assets shall make public the details of each order for crypto-assets as set out in Tables 2 and 3 of Annex I.