Please be informed Treasury BondSpot Poland Market Rules have been changed by the Management Board of BondSpot S.A.

The consolidated text of the TBSP Market Rules, incorporating the amendments, has been published on the BondSpot S.A. website: https://www.bondspot.pl/TBSPoland_regulations_en

The amendments to the TBSP Market Rules are intended to align its provisions with Commission Delegated Regulation (EU) 2025/1246 of 18 June 2025, amending the regulatory technical standards laid down in Commission Delegated Regulations (EU) 2017/583 and (EU) 2017/587 with regard to transparency requirements for trading venues and investment firms in respect of bonds, structured finance products, emission allowances and equity instruments.

The amendments to the TBSP Market Rules concern changes to the minimum transaction value for Trade Registration Facility Transactions as well as MIDPRICE orders and transactions, the subject of which are Treasury Securities for which there is a liquid market, and the introduction of a principle pursuant to which BondSpot will determine the Treasury Securities for which a liquid market exists.

The amendments concern:

1) Annex C to the TBSP Market Rules,
2) Annex M to the TBSP Market Rules.

The amendments to the TBSP Markt Rules shall enter into force on 2 March 2026, unless a TBSP Participant raises an objection to the shortening of the period for their entry into force within 2 business days, calculated from the date on which the amendments to the TBSP Rules are made available to TBSP Participants.