Article 9
Structural characteristics of the market
In taking into account, in accordance with point (g) of Article 13(2) of Regulation (EU) No 596/2014, the participation of retail-investors in the relevant market, competent authorities shall assess at a minimum:
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(a) |
the impact the market practice might have on retail investors' interests where the market practice concerns financial instruments traded on markets in which retail investors participate; |
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(b) |
whether the market practice increases the probability of retail investors to find counterparties in low-liquidity financial instruments, without increasing the risks borne by them. |