(1)For the purpose of consistency, the methodology for calculating market capitalisation should align with the established frameworks used for determining liquid markets under Regulation (EU) No 600/2014 of the European Parliament and of the Councilnote and Commission Delegated Regulation (EU) 2017/567note, while adapting to the requirements of Directive (EU) 2025/50. In particular, in accordance with the definition set out in Article 3(1), point (32) of Directive (EU) 2025/50, market capitalisation refers exclusively to the total value of shares admitted to trading on regulated markets or multilateral trading facilities.
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