There has been published in the Official Journal of the EU, Commission Delegated Regulation (EU) 2017/2194 of 14 August 2017 supplementing MiFIR with regard to package orders.
The Delegated Regulation comprises of the following:
- Article 1 sets out the general methodology for establishing for which package orders there is a liquid market as a whole; and
- Articles 2 to 5 specify the conditions under which a package order can fulfil the asset-specific criteria set out in Article 1(b), respectively for interest rate derivatives (Article 2), equity derivatives (Article 3), credit derivatives (Article 4) and commodity derivatives (Article 5).
The Delegated Regulation applies from 3 January 2018.