Commission Delegated Regulation (EU) 2025/1156 of 12 June 2025 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards on the obligation to make market data available to the public on a reasonable commercial basis

RTS under the 2024 MiFIR review on providing market data on a reasonable commercial basis: trading venues, APAs, CTPs and systematic internalisers must base fees on the costs of producing and disseminating the data plus a reasonable margin, apply them without discrimination, keep data unbundled and use fair, transparent contractual terms, including on audits, penalties and fee changes.