Source: OJ L, 2025/417, 14.3.2025Current language: EN
- Markets in crypto-assets
Crypto-asset service provider
- RTS on trading platform transparency data
Article 4 Real time publication of transactions
Summary What does Article 4 of the RTS on trading platform transparency data say?
This article builds directly on Article 3, which establishes what transaction details must be disclosed, by adding a strict timing requirement for when that disclosure must occur.
It sets a clear deadline for crypto-asset service providers operating trading platforms to publish post-trade transaction data, anchoring the obligation to the moment of execution.
Important points:
- Publish full transaction details as close to real-time as is technically possible after each trade is executed.
- The absolute maximum time allowed between execution and public disclosure is thirty seconds — there are no exceptions to this deadline.
- This obligation applies to crypto-asset service providers operating a trading platform, specifically for transactions executed on their own platforms.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
For transactions executed on their crypto-asset trading platforms, crypto-asset service providers operating a trading platform for crypto-assets shall make public the details of each transaction as set out in Tables 1, 2 and 3 of Annex II as close to real-time as is technically possible and in any case within thirty seconds after the execution of the transaction.
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
distributed ledger
Definition
reception and transmission of orders for crypto-assets on behalf of clients
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exchange of crypto-assets for funds
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consensus mechanism
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operation of a trading platform for crypto-assets
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
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providing advice on crypto-assets
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offeror
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execution of orders for crypto-assets on behalf of clients
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crypto-asset service provider
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crypto-asset
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DLT network node
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funds
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client
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issuer
Definition
exchange of crypto-assets for other crypto-assets
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providing custody and administration of crypto-assets on behalf of clients
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providing transfer services for crypto-assets on behalf of clients
Definition
distributed ledger technology