Article 13
Application of post-trade transparency to certain types of transactions executed outside a trading venue
The obligation in Article 20(1) of Regulation (EU) No 600/2014 shall not apply to the following:
(a)
excluded transactions listed under Article 2(5) of Commission Delegated Regulation (EU) 2017/590 ( 5 ) where applicable.
(b)
give-up transactions or give-in transactions, which are any of the following transactions:
(i)
a transaction where an investment firm passes a client trade to, or receives a client trade from, another investment firm for post-trade processing;
(ii)
a transaction where an investment firm executing a trade passes it to, or receives it from, another investment firm for the purpose of hedging the position that it has committed to enter into with a client.
( 5 ) Commission Delegated Regulation (EU) 2017/590 of 28 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the reporting of transactions to competent authorities (see page 449 of this Official Journal).