Article 5
Impact on market liquidity and efficiency
In determining whether a market practice proposed to be established as an AMP complies with the criterion set out in point (c) of Article 13(2) of Regulation (EU) No 596/2014, competent authorities shall assess the impact the market practice has on at least the following elements:
|
(a) |
volume traded; |
|
(b) |
number of orders in the order book (order depth); |
|
(c) |
speed of execution of the transactions; |
|
(d) |
volume weighted average price of a single session, daily closing price; |
|
(e) |
bid/offer spread, price fluctuation and volatility; |
|
(f) |
regularity of quotations or transactions. |