{
  "url": "https://openlegislation.uk/eu-regulation-2017-578/article-1",
  "json_url": "https://openlegislation.uk/eu-regulation-2017-578/article-1.json",
  "legislation": "eur/2017/578",
  "legislation_title": "Commission Delegated Regulation (EU) 2017/578 of 13 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards specifying the requirements on market making agreements and schemes (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2017-578",
  "path": "article/1",
  "kind": "article",
  "number": "1",
  "heading": "Obligation for investment firms to enter into a market making agreement",
  "text": "1. Investment firms shall enter into a market making agreement regarding the financial instrument or instruments in which they pursue a market making strategy with the trading venue or venues at which this strategy takes place where, during half of the trading days over a one month period, in execution of the market making strategy, they:\n(a) post firm, simultaneous two-way quotes of comparable size and competitive prices\n(b) deal on their own account in at least one financial instrument on one trading venue for at least 50 % of the daily trading hours of continuous trading at the respective trading venue, excluding opening and closing auctions.\n2. For the purposes of paragraph 1:\n(a) a quote shall be deemed to be a firm quote where it includes orders and quotes that under the rules of a trading venue can be matched against an opposite order or quote;\n(b) quotes shall be deemed simultaneous two-way quotes if they are posted in such a way that both the bid and the ask-price are present in the order book at the same time;\n(c) two quotes shall be deemed of comparable size when their sizes do not diverge by more than 50 % from each other;\n(d) quotes shall be deemed to have competitive prices where they are posted at or within the maximum bid-ask range set by the trading venue and imposed upon every investment firm that has signed a market making agreement with that trading venue.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2017/578/article/1",
    "retrieved_at": "2026-11-01T14:45:05.454150+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}