{
  "url": "https://openlegislation.uk/eu-regulation-2017-587/article-5",
  "json_url": "https://openlegislation.uk/eu-regulation-2017-587/article-5.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": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Specific characteristics of negotiated transactions(Article 4(1)(b) of Regulation (EU) No 600/2014)",
  "text": "A negotiated transaction in shares, depositary receipts, ETF, certificates or other similar financial instruments shall be considered to be a transaction which is negotiated privately but reported under the rules of a trading venue and where any of the following circumstances applies:\n(a) two members or participants of that trading venue are involved in any of the following capacities:\n(i) one is dealing on own account when the other is acting on behalf of a client;\n(ii) both are dealing on own account;\n(iii) both are acting on behalf of a client;\n(b) one member or participant of that trading venue is either of the following:\n(i) acting on behalf of both the buyer and seller;\n(ii) dealing on own account against a client order.",
  "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/2017/587/article/5",
    "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."
}