Article 2 Pre-trade transparency

Crypto-asset service providers operating a trading platform for crypto-assets 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 providers operating a trading platform for crypto-assets shall make public the details of each order for crypto-assets as set out in Tables 2 and 3 of Annex I.