Contents
- 1. By 1 March of the year following the date of application o…
- 10. Trading venues shall apply the tick sizes of the liquidity…1 change
- 2. The calculation referred to in paragraph 1 shall have the…
- 3. Paragraphs 1 and 2 shall not apply to shares and depositar…
- 4. Trading venues shall apply the tick sizes of the liquidity…1 change
- 5. Before the first admission to trading or before the first…
- 6. No later than six weeks after the first day of trading of…
- 7. For the purposes of this Article, the average daily number…
- 8. The competent authority for a specific share may adjust th…1 change
- 9. The competent authority that adjusted the average daily nu…1 change
5.Before the first admission to trading or before the first day of trading of a share or depositary receipt, the competent authority of the trading venue where that financial instrument is to be first admitted to trading or is to be first traded shall estimate the average daily number of transactions for that trading venue, taking into account the previous trading history of that financial instrument, where applicable, as well as the previous trading history of financial instruments that are considered to have similar characteristics, and publish that estimation.The tick sizes of the liquidity band corresponding to that published estimate average daily number of transactions shall apply from the publication of that estimate until the publication of the average daily number of transactions for that instrument in accordance with paragraph 6.
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