Source: OJ L, 2025/416, 14.3.2025Current language: EN
- Markets in crypto-assets
Crypto-asset service provider
- RTS on trading platform order book records
Article 1 Content, standards and format of data relating to orders in crypto-assets
Summary What does Article 1 of the RTS on trading platform order book records say?
This is the foundational article of the regulation, establishing the core obligation that underpins everything that follows.
It requires crypto-asset service providers operating a trading platform to make order book data available to competent authorities, covering the details set out across Articles 2 to 15.
It also sets the technical standard for how that data must be formatted and structured, anchoring all subsequent articles to a single access and reporting framework.
Important points:
- Ensure that full details of each order advertised through your systems are kept available for, or directly accessible by, the competent authority at all times.
- The scope of data to be maintained is defined by Articles 2 to 15, with the precise format specified in Tables 2 and 3 of the Annex.
- All data submitted must be in JSON format and comply with the ISO 20022 standard.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
Crypto-asset service providers operating a trading platform for crypto-assets shall keep at the disposal of the competent authority, or give the competent authority access to the details of each order in crypto-assets advertised through their systems set out in Articles 2 to 15, as specified in the format laid down in Tables 2 and 3 of the Annex, insofar as they pertain to the order concerned.
The data referred to in paragraph 1 shall be in a JSON format in accordance with the methodology laid out in standard ISO 20022.
Relevant recitals
Recital 1 Order book record-keeping and machine-readable format
To enable competent authorities to perform effective and efficient collation, comparison and analysis of the order data, crypto-asset service providers operating platforms for crypto-assets should keep records of relevant data relating to all orders (order book records) in accordance with this Regulation. They should record the data in an electronic and machine-readable JSON format developed in accordance with the ISO 20022 methodology. An order book should be considered an organised list of buy and sell orders for a specific crypto-asset.
Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.
Definition
placing of crypto-assets
Definition
official currency
Definition
distributed ledger
Definition
reception and transmission of orders for crypto-assets on behalf of clients
Definition
exchange of crypto-assets for funds
Definition
consensus mechanism
Definition
operation of a trading platform for crypto-assets
Definition
e-money token
Definition
crypto-asset service
- providing custody and administration of crypto-assets on behalf of clients;
- operation of a trading platform for crypto-assets;
- exchange of crypto-assets for funds;
- exchange of crypto-assets for other crypto-assets;
- execution of orders for crypto-assets on behalf of clients;
- placing of crypto-assets;
- reception and transmission of orders for crypto-assets on behalf of clients;
- providing advice on crypto-assets;
- providing portfolio management on crypto-assets;
- providing transfer services for crypto-assets on behalf of clients;
Definition
offer to the public
Definition
providing advice on crypto-assets
Definition
offeror
Definition
execution of orders for crypto-assets on behalf of clients
Definition
crypto-asset service provider
Definition
crypto-asset
Definition
DLT network node
Definition
funds
Definition
client
Definition
asset-referenced token
Definition
issuer
Definition
exchange of crypto-assets for other crypto-assets
Definition
electronic money token
Definition
providing custody and administration of crypto-assets on behalf of clients
Definition
providing transfer services for crypto-assets on behalf of clients
Definition
distributed ledger technology
Definition
competent authority
- designated by each Member State in accordance with Article 93 concerning offerors, persons seeking admission to trading of crypto-assets other than asset-referenced tokens and e-money tokens, issuers of asset-referenced tokens, or crypto-asset service providers;
- designated by each Member State for the application of Directive 2009/110/EC concerning issuers of e-money tokens;