Delegated act · European Commission
Commission Delegated Regulation (EU) 2026/482 of 24 November 2025 amending Delegated Regulation (EU) 2017/567 as regards the determination of what constitutes a liquid market for equity instruments, the obligation to provide market data on a reasonable commercial basis, the size specific to the instrument for the purposes of obligations for systematic internalisers, and the definition of and disclosure for post-trade risk reduction services
In force
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Amends Delegated Regulation 2017/567 following the 2024 MiFIR review: replaces the free float criterion for liquid shares with a market capitalisation threshold of EUR 100 million, clarifies how average daily turnover and transactions are calculated, treats other similar equity instruments as illiquid, and updates the rules on market data on a reasonable commercial basis, SI instrument size and post-trade risk reduction services. Parts apply from 23 August 2026.
Details
| Reference | Delegated Regulation (EU) 2026/482 |
|---|---|
| Issuer | European Commission |
| Published | 27 Feb 2026 |
| CELEX | 32026R0482 |
| In force / applies from | 2 Mar 2026, 23 Aug 2026 |
Provisions it relates to
- Article 2 MiFIR · DefinitionsLegal basis
- Article 31 MiFIR · Post-trade risk reduction servicesLegal basis