{
  "url": "https://openlegislation.uk/eu-regulation-2017-587/annex-I",
  "json_url": "https://openlegislation.uk/eu-regulation-2017-587/annex-I.json",
  "legislation": "eur/2017/587",
  "legislation_title": "Commission Delegated Regulation (EU) 2017/587 of 14 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on transparency requirements for trading venues and investment firms in respect of shares, depositary receipts, exchange-traded funds, certificates and other similar financial instruments and on transaction execution obligations in respect of certain shares on a trading venue or by a systematic internaliser (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2017-587",
  "path": "annex/I",
  "kind": "annex",
  "number": "I",
  "heading": "Information to be made public",
  "text": "Table 1\nDescription of the type of trading systems and the related information to be made public in accordance with Article 3\nType of trading system\nDescription of the trading system\nInformation to be made public\nContinuous auction order book trading system\nA system that by means of an order book and a trading algorithm operated without human intervention matches sell orders with buy orders on the basis of the best available price on a continuous basis.\nThe aggregate number of orders and the shares, depositary receipts, ETFs, certificates and other similar financial instruments that they represent at each price level for at least the five best bid and offer price levels.\nQuote-driven trading system\nA system where transactions are concluded on the basis of firm quotes that are continuously made available to participants, which requires the market makers to maintain quotes in a size that balances the needs of members and participants to deal in a commercial size and the risk to which the market maker exposes itself.\nThe best bid and offer by price of each market maker in shares, depositary receipts, ETFs, certificates and other similar financial instruments traded on the trading system, together with the volumes attaching to those prices.\nThe quotes made public shall be those that represent binding commitments to buy and sell the financial instruments and which indicate the price and volume of financial instruments in which the registered market makers are prepared to buy or sell. In exceptional market conditions, however, indicative or one-way prices may be allowed for a limited time.\nPeriodic auction trading system\nA system that matches orders on the basis of a periodic auction and a trading algorithm operated without human intervention.\nThe price at which the auction trading system would best satisfy its trading algorithm in respect of shares, depositary receipts, ETFs, certificates and other similar financial instruments traded on the trading system and the volume that would potentially be executable at that price by participants in that system.\nRequest for quote trading system\nA trading system where a quote or quotes are provided in response to a request for quote submitted by one or more members or participants. The quote is executable exclusively by the requesting member or participant. The requesting member or participant may conclude a transaction by accepting the quote or quotes provided to it on request.\nThe quotes and the attached volumes from any member or participant which, if accepted, would lead to a transaction under the system's rules. All submitted quotes in response to a request for quote may be published at the same time but not later than when they become executable.\nAny other trading system\nAny other type of trading system, including a hybrid system falling into two or more of the types of trading systems referred to in this table.\nAdequate information as to the level of orders or quotes and of trading interest in respect of shares, depositary receipts, ETFs, certificates and other similar financial instruments traded on the trading system; in particular, the five best bid and offer price levels and/or two-way quotes of each market maker in that instrument, if the characteristics of the price discovery mechanism so permit.\nTable 2\nSymbol table for Table 3\nSymbol\nData type\nDefinition\n{ALPHANUM-n}\nUp to n alphanumerical characters\nFree text field.\n{CURRENCYCODE_3}\n3 alphanumerical characters\n3-letter currency code, as defined by ISO 4217 currency codes\n{DATE_TIME_FORMAT}\nISO 8601 date and time format\nDate and time in the following format:\nYYYY-MM-DDThh:mm:ss.ddddddZ.\n‘YYYY’ is the year;\n‘MM’ is the month;\n‘DD’ is the day;\n‘T’ — means that the letter ‘T’ shall be used\n‘hh’ is the hour;\n‘mm’ is the minute;\n‘ss.dddddd’ is the second and its fraction of a second;\nZ is UTC time.\nDates and times shall be reported in UTC.\n{DECIMAL-n/m}\nDecimal number of up to n digits in total of which up to m digits can be fraction digits\nNumerical field for both positive and negative values.\ndecimal separator is ‘.’ (full stop);\nnegative numbers are prefixed with ‘–’ (minus);\nWhere applicable, values shall be rounded and not truncated.\n{ISIN}\n12 alphanumerical characters\nISIN code, as defined in ISO 6166\n{MIC}\n4 alphanumerical characters\nMarket identifier as defined in ISO 10383\nTable 3\nList of details for the purpose of post-trade transparency\nCommission Delegated Regulation (EU) 2017/580 of 24 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the maintenance of relevant data relating to orders in financial instruments (see page 193 of this Official Journal).\nField identifier\nDescription and details to be published\nType of execution or publication venue\nFormat to be populated as defined in Table 2\nTrading date and time\nDate and time when the transaction was executed.\nFor transactions executed on a trading venue, the level of granularity shall be in accordance with the requirements set out in Article 2 of Delegated Regulation (EU) 2017/574.\nFor transactions not executed on a trading venue, the date and time when the parties agree the content of the following fields: quantity, price, currencies in fields 31, 34 and 44 as specified in Table 2 of Annex 1 of Delegated Regulation (EU) 2017/590, instrument identification code, instrument classification and underlying instrument code, where applicable. For transactions not executed on a trading venue the time reported shall be granular to at least the nearest second.\nWhere the transaction results from an order transmitted by the executing firm on behalf of a client to a third party where the conditions for transmission set out in Article 4 of Delegated Regulation (EU) 2017/590 were not satisfied, this shall be the date and time of the transaction rather than the time of the order transmission.\nRegulated Market (RM), Multilateral Trading Facility (MTF), Organised Trading Facility (OTF)\nApproved Publication Arrangement (APA)\nConsolidated tape provider (CTP)\n{DATE_TIME_FORMAT}\nInstrument identification code\nCode used to identify the financial instrument\nRM, MTF\nAPA\nCTP\n{ISIN}\nPrice\nTraded price of the transaction excluding, where applicable, commission and accrued interest.\nWhere price is reported in monetary terms, it shall be provided in the major currency unit.\nWhere price is currently not available but pending, the value should be ‘PNDG’.\nWhere price is not applicable the field shall not be populated.\nThe information reported in this field shall be consistent with the values provided in field Quantity.\nRM, MTF\nAPA\nCTP\n{DECIMAL-18/13} in case the price is expressed as monetary value\n{DECIMAL-11/10} in case the price is expressed as percentage or yield\n‘PNDG’ in case the price is not available\nPrice currency\nCurrency in which the price is expressed (applicable if the price is expressed as monetary value).\nRM, MTF\nAPA\nCTP\n{CURRENCYCODE_3}\nQuantity\nNumber of units of the financial instruments.\nThe nominal or monetary value of the financial instrument.\nThe information reported in this field shall be consistent with the values provided in field Price.\nRM, MTF\nAPA\nCTP\n{DECIMAL-18/17} in case the quantity is expressed as number of units\n{DECIMAL-18/5} in case the quantity is expressed as monetary or nominal value\nVenue of execution\nIdentification of the venue where the transaction was executed.\nUse the ISO 10383 segment MIC for transactions executed on a trading venue,. Where the segment MIC does not exist, use the operating MIC.\nUse MIC code ‘XOFF’ for financial instruments admitted to trading or traded on a trading venue, where the transaction on that financial instrument is not executed on a trading venue, systematic internaliser or organised trading platform outside of the Union.\nUse SINT for financial instruments admitted to trading or traded on a trading venue, where the transaction on that financial instrument is executed on a Systematic Internaliser.\nRM, MTF\nAPA\nCTP\ntrading venues: {MIC}\nSystematic internalisers: ‘SINT’\nPublication date and time\nDate and time when the transaction was published by a trading venue or APA.\nFor transactions executed on a trading venue, the level of granularity shall be in accordance with the requirements set out in Article 2 of Delegated Regulation (EU) 2017/574.\nFor transactions not executed on a trading venue, the date and time shall be granular to at least the nearest second.\nRM, MTF\nAPA\nCTP\n{DATE_TIME_FORMAT}\nVenue of Publication\nCode used to identify the trading venue or APA publishing the transaction.\nCTP\ntrading venue: {MIC}\nAPA: ISO 10383 segment MIC (4 characters) where available. Otherwise, 4-character code as published in the list of data reporting services providers on ESMA's website.\nTransaction identification code\nAlphanumerical code assigned by trading venues (pursuant to Article 12 of Commission Delegated Regulation (EU) 2017/580) and APAs and used in any subsequent reference to the specific trade.\nThe transaction identification code shall be unique, consistent and persistent per ISO 10383 segment MIC and per trading day. Where the trading venue does not use segment MICs, the transaction identification code shall be unique, consistent and persistent per operating MIC per trading day.\nWhere the APA does not use MICs, it should be unique, consistent and persistent per 4-character code used to identify the APA per trading day.\nThe components of the transaction identification code shall not disclose the identity of the counterparties to the transaction for which the code is maintained\nRM, MTF\nAPA\nCTP\n{ALPHANUM-52}\nTable 4\nList of flags for the purpose of post-trade transparency\nCommission Delegated Regulation (EU) 2017/567 of 18 May 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to definitions, transparency, portfolio compression and supervisory measures on product intervention and positions (see page 90 of this Official Journal).\nFlag\nName\nType of execution or publication venue\nDescription\n‘BENC’\nBenchmark transactions flag\nRM, MTF\nAPA\nCTP\nTransactions executed in reference to a price that is calculated over multiple time instances according to a given benchmark, such as volume-weighted average price or time-weighted average price.\n‘ACTX’\nAgency cross transactions flag\nAPA\nCTP\nTransactions where an investment firm has brought together clients' orders with the purchase and the sale conducted as one transaction and involving the same volume and price.\n‘NPFT’\nNon-price forming transactions flag\nRM, MTF\nCTP\nTransactions where the exchange of financial instruments is determined by factors other than the current market valuation of the financial instrument as listed under Article 13.\n‘TNCP’\nTransactions not contributing to the price discovery process for the purposes of Article 23 of Regulation (EU) No 600/2014 flag\nRM, MTF\nAPA\nCTP\nTransaction not contributing to the price discovery process for the purposes of Article 23 of Regulation (EU) No 600/2014 and as set out in Article 2.\n‘SDIV’\nSpecial dividend transaction flag\nRM, MTF\nAPA\nCTP\nTransactions that are either:\nexecuted during the ex-dividend period where the dividend or other form of distribution accrues to the buyer instead of the seller; or\nexecuted during the cum-dividend period where the dividend or other form of distribution accrues to the seller instead of the buyer.\n‘LRGS’\nPost-trade large in scale transaction flag\nRM, MTF\nAPA\nCTP\nTransactions that are large in scale compared with normal market size for which deferred publication is permitted under Article 15.\n‘RFPT’\nReference price transaction flag\nRM, MTF\nCTP\nTransactions which are executed under systems operating in accordance with Article 4(1)(a) of Regulation (EU) No 600/2014.\n‘NLIQ’\nNegotiated transaction in liquid financial instruments flag\nRM, MTF\nCTP\nTransactions executed in accordance with Article 4(1)(b)(i) of Regulation (EU) No 600/2014.\n‘OILQ’\nNegotiated transaction in illiquid financial instruments flag\nRM, MTF\nCTP\nTransactions executed in accordance with Article 4(1)(b)(ii) of Regulation (EU) No 600/2014.\n‘PRIC’\nNegotiated transaction subject to conditions other than the current market price flag\nRM, MTF\nCTP\nTransactions executed in accordance with Article 4(1)(b)(iii) of Regulation (EU) No 600/2014 and as set out in Article 6.\n‘ALGO’\nAlgorithmic transaction flag\nRM, MTF\nCTP\nTransactions executed as a result of an investment firm engaging in algorithmic trading as defined in Article 4(1)(39) of Directive 2014/65/EU.\n‘SIZE’\nTransaction above the standard market size flag\nAPA\nCTP\nTransactions executed on a systematic internaliser where the size of the incoming order was above the standard market size as determined in accordance with Article 11.\n‘ILQD’\nIlliquid instrument transaction flag\nAPA\nCTP\nTransactions in illiquid instruments as determined in accordance with Articles 1 to 9 of Commission Delegated Regulation (EU) 2017/567 executed on a systematic internaliser.\n‘RPRI’\nTransactions which have received price improvement flag\nAPA\nCTP\nTransactions executed on a systematic internaliser with a price improvement in accordance with Article 15(2) of Regulation (EU) No 600/2014.\n‘CANC’\nCancellation flag\nRM, MTF\nAPA\nCTP\nWhen a previously published transaction is cancelled.\n‘AMND’\nAmendment flag\nRM, MTF\nAPA\nCTP\nWhen a previously published transaction is amended.\n‘DUPL’\nDuplicative trade reports flag\nAPA\nWhen a transaction is reported to more than one APA in accordance with Article 17(1) of Delegated Regulation (EU) 2017/571.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Commission Delegated Regulation (EU) 2017/580 of 24 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the maintenance of relevant data relating to orders in financial instruments (see page 193 of this Official Journal)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Commission Delegated Regulation (EU) 2017/567 of 18 May 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to definitions, transparency, portfolio compression and supervisory measures on product intervention and positions (see page 90 of this Official Journal)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2017/587/annex/I",
    "retrieved_at": "2026-11-01T14:45:05.013628+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."
}