meta_id 3345299

On July 22, 2026, the Commission de Surveillance du Secteur Financier (CSSF) announced that Circular CSSF 21/783 will become obsolete effective August 23, 2026. The CSSF issued the original circular to integrate European Securities and Markets Authority (ESMA) guidelines on market data obligations under the Markets in Financial Instruments Directive and Regulation (MiFID II/MiFIR) into its administrative practice. The ESMA decision to repeal these guidelines reflects that the subjects they addressed have been incorporated into Commission Delegated Regulation (EU) 2025/1156 of June 12, 2025. This delegated regulation amends Regulation (EU) 600/2014 and establishes regulatory technical standards concerning the obligation to make market data available to the public on reasonable commercial terms. The obsolescence of CSSF Circular 21/783 represents a streamlining of Luxembourg's regulatory framework, consolidating market data requirements into the updated EU delegated regulation rather than maintaining separate CSSF guidance. This development affects investment firms, credit institutions, crypto-asset service providers (CASP), and specialised payment service firms (PSF) operating in Luxembourg. The effective date of August 23, 2026 provides market participants with approximately one month to align their practices with the updated regulatory framework under the delegated regulation. Entities should review the new technical standards in Commission Delegated Regulation (EU) 2025/1156 to ensure compliance with revised market data obligations.