EU · MiFIR · TITLE V DERIVATIVES

Article 32a MiFIRStand-alone suspension of the trading obligation

In force

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

AI-generated What this provision does

Introduced by the 2024 review: at a competent authority's request, the Commission may by implementing act suspend the derivatives trading obligation for specific financial counterparties that regularly make markets for non-EEA clients without EEA venue access, or that make markets in CDS on dealer-to-dealer venues, considering effects on the clearing obligation and extending the suspension to similar firms in other Member States.

Amendments and application dates

Amending act	Change	Applies from
Regulation (EU) 2024/791	Provision inserted; Text inserted	28 Mar 2024

Level 2: delegated and implementing acts

Implementing actIn forceLegal basis
Commission Implementing Regulation (EU) 2026/1288 of 12 June 2026 on the stand-alone suspension of the trading obligation for derivatives in accordance with Regulation (EU) No 600/2014 of the European Parliament and of the Council
European Commission · 15 Jun 2026 · EUR-Lex
AI summaryFirst use of the new Article 32a MiFIR power to suspend the derivatives trading obligation for specific firms: at the request of the AMF and BaFin, suspends it for BNP Paribas, Société Générale, Crédit Agricole CIB and Deutsche Bank when acting as market makers in response to RFQs from non-EEA clients, notably UK clients, and provides for review of the grounds for suspension.

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) 2024/791 (from 28 Mar 2024), after exit.

Version history

From 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.