EU · MiFIR · TITLE IVa DATA REPORTING SERVICES · CHAPTER 1 Authorisation of data reporting services providers

Article 27d MiFIRProcedures for granting and refusing applications for authorisation of ARMs and APAs

In force

Read the official text on EUR-Lex(opens in a new tab)

AI-generated What this provision does

Sets the procedure for authorising APAs and ARMs: applicants submit a programme of operations and all necessary information to ESMA (or the national authority for derogated providers), which checks completeness within 20 working days and decides within six months of a complete application, notifying the reasoned decision within five working days; ESMA standards set the information and forms.

Amendments and application dates

Amending act	Change	Applies from
Regulation (EU) 2019/2175	Provision inserted; Text inserted	by 1 Jan 2022
Regulation (EU) 2024/791	Text amended	28 Mar 2024

Level 2: delegated and implementing acts

RTSIn forceLegal basis
Commission Delegated Regulation (EU) 2025/1143 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 authorisation and organisational requirements for approved publication arrangements and approved reporting mechanisms, and on the authorisation requirements for consolidated tape providers, and repealing Commission Delegated Regulation (EU) 2017/571
European Commission · 3 Nov 2025 · EUR-Lex
AI summaryRTS under the 2024 MiFIR review on authorisation and organisational requirements for APAs and ARMs (including digital operational resilience under DORA, error handling, ARM connectivity and APA publication details) and on the information CTP applicants must give ESMA. Repeals Delegated Regulation 2017/571 and applies from 23 November 2025.
ITSIn forceLegal basis
Commission Implementing Regulation (EU) 2025/1157 of 12 June 2025 laying down implementing technical standards for the application of Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to the standard forms, templates and procedures for the authorisation of approved publication arrangements, approved reporting mechanisms and consolidated tape providers, and related notifications, and repealing Commission Implementing Regulation (EU) 2017/1110
European Commission · 3 Nov 2025 · EUR-Lex
AI summaryITS under the 2024 MiFIR review setting standard forms, templates and procedures for applying for authorisation as an APA, ARM or consolidated tape provider, and for related notifications such as changes to the management body. Repeals Implementing Regulation 2017/1110.

Level 3: ESMA Q&As, guidelines and opinions

Q&ALegacy Q&A documentESMA rulebook
ESMA70-872942901-38: Questions and Answers On MiFID II and MiFIR market structure topics
ESMA · the ESMA website
AI summaryESMA's consolidated legacy Q&A document (ESMA70-872942901-38, final version 13 October 2023) on market structure topics, covering data disaggregation, direct electronic access and algorithmic trading, the tick size regime, multilateral and bilateral systems (including OTFs and systematic internalisers) and access to CCPs and trading venues. It is no longer updated; later Q&As are in ESMA's Q&A tool.
Q&ALegacy Q&A documentESMA rulebook
ESMA70-1562901-35: Questions and Answers On MiFID II and MiFIR transparency topics
ESMA · the ESMA website
AI summaryESMA's consolidated legacy Q&A document on MiFID II and MiFIR transparency (final version 27 October 2023, printed with the reference ESMA70-1562901-35), covering equity and non-equity transparency, pre-trade waivers, the double volume cap, the systematic internaliser regime, data reporting services providers and third-country issues. It is no longer updated; later Q&As are in ESMA's Q&A tool.

Commentary

No law-firm commentary is linked to this provision yet.

219 more documents relate to MiFIR as a whole without naming an article.

UK counterpart

No UK counterpartExplicit reference
Inserted in the EU by Regulation (EU) 2019/2175 (by 1 Jan 2022), after exit.

Version history

From 28 Mar 2024
From 1 Jan 2022 to 28 Mar 2024

Each entry is a consolidated version of the act on EUR-Lex in which this provision appears. The text itself is on the official site.