Implementing Regulation on stand-alone suspension of DTO under MiFIR published in OJ

The Commission Implementing Regulation (EU) 2026/1288 was published in the Official Journal of the European Union (OJ). The Implementing Regulation provides for a stand-alone suspension of the derivatives trading obligation (DTO) set out in Article 28 of the Markets in Financial Instruments Regulation (EU) No 600/2014 (MiFIR) for certain EU financial counterparties. Under Article 32a MiFIR (introduced by Regulation (EU) 2024/791 - MiFIR II), the European Commission (EC) may suspend the DTO by making an implementing act following a request from a national competent authority for certain investment firms acting as market makers with non-EEA counterparties when certain conditions are met. The effect of this Implementing Regulation is that certain named firms will be permitted to execute derivatives within the scope of the DTO on UK trading venues. The Implementing Regulation will enter into force on 18 June, the third day following its publication in the OJ. The EC will review whether the grounds for the suspension of the DTO continue to apply every five years from 18 June.

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