Article 23 | Delegated Regulation 2025/1156

Updated 10/12/2025

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In force

Initial Legal Act

Amendments

Article 23 - Delegated Regulation 2025/1156

Article 23

Market operators and investment firms operating a trading venue, APAs and systematic internalisers shall provide access to delayed market data to any client on a non-discriminatory basis without requiring any type of registration.

Recitals

CHAPTER I - DEFINITIONS (Article 1)

CHAPTER II - CALCULATION OF TOTAL COSTS AND MARGINS OF MARKET DATA (Article 2-3)

CHAPTER III - NON-DISCRIMINATORY ACCESS (Article 4-6)

CHAPTER IV - UNBIASED AND FAIR CONTRACTUAL TERMS (Article 7-16)

CHAPTER V - CONTENT, FORMAT AND TERMINOLOGY OF THE MARKET DATA POLICIES (Article 17-22)

CHAPTER VI - DATA ACCESS, CONTENT AND FORMAT OF DELAYED MARKET DATA (Article 23-25)Article 23 - Access to delayed market data Article 24 - Content of delayed market data Article 25 - Format of delayed market data

CHAPTER VII - CONTENT, FORMAT AND TERMINOLOGY OF THE INFORMATION TO BE PROVIDED TO THE COMPETENT AUTHORITIES (Article 26)

CHAPTER VIII - FINAL PROVISIONS (Article 27-28)

ANNEX I ANNEX II

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Article 23 - Delegated Regulation 2025/1156

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