Article 2 Pre-trade transparency

Crypto-asset service providersmeans a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59; operating a trading platform for crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; shall make public any bid and ask prices and the depth of trading interest at those prices, as referred to in Article 76(9) of Regulation (EU) 2023/1114, in accordance with the type of trading systems they operate as listed in Table 1 of Annex I to this Regulation.

1. the orders are contingent on the occurrence of objective market conditions which are pre-defined by the trading system’s protocol;

2. the orders cannot interact with other trading interests prior to the disclosure to the order book operated by the trading platform;

3. once disclosed to the order book, the orders interact with other orders in accordance with the rules applicable to orders of that kind at the time of disclosure.

Crypto-asset service providersmeans a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59; operating a trading platform for crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; shall make public the details of each order for crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; as set out in Tables 2 and 3 of Annex I.