1. When applying a central limit order book or a periodic auction trading system, market operators and investment firms operating a trading venue shall make public current bid and offer prices and the depth of trading interests at those prices which are advertised through their systems in respect of bonds, structured finance products and emission allowances. Those market operators and investment firms shall make that information available to the public on a continuous basis during normal trading hours.

2. The transparency requirements referred to in paragraph 1 shall be calibrated for different types of trading systems.
 

Explanatory note regarding MiFIR Review and Transition:

The amendments to Articles 8 of MiFIR apply from 28 March 2024. 

From such date, in respect of bonds, structured products and emission allowances:

• Article 1(2) and (3) of the current version of Commission Delegated Regulation (EU) 2017/583 (RTS 2) no longer apply.
• The descriptions of the request-for-quote and voice trading systems and related pre-trade transparency information to be disclosed provided in Annex I of the current version of RTS 2 no longer apply. The other descriptions of trading systems provided in Annex I of the current version of RTS 2 apply till the reviewed RTS 2 starts applying.
• Articles 5 of RTS 2 and the provisions on size-specific to the financial instruments in Articles 13(2) and 17(3) of the current version of RTS 2 no longer apply.