The most relevant Union currencies shall be identified on the basis of the relative share of each currency in the CCP’s average end-of-day open positions across all financial instruments cleared by the CCP, calculated over a period of one year.

The most relevant Union currencies shall be the three currencies with the highest relative share calculated in accordance with paragraph 1, provided that each individual share exceeds 10 %.

The calculation of the relative share of the currencies shall be calculated on an annual basis.