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Commission Delegated Regulation (EU) 2017/389 Article 3

Commission Delegated Regulation (EU) 2017/389 Article 3

Reference price of the transaction

Article 3

1.   The reference price referred to in Article 2 shall be equal to the aggregated market value of the financial instruments determined in accordance with Article 7 for each business day that the transaction fails to be settled. 2.   The reference price referred to in paragraph 1 shall be used to calculate the level of cash penalties for all settlement fails, irrespective of whether the settlement fail is due to a lack of securities or cash.

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Other provisions in Commission Delegated Regulation (EU) 2017/389

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of 2026-07-04

CitationArticle 3 of Commission Delegated Regulation (EU) 2017/389 (LawPlayer, data as of 2026-07-04)

© European Union, https://eur-lex.europa.eu, 1998-2026. Reuse authorised under Commission Decision 2011/833/EU, provided the source is acknowledged.

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