ANNEX II
Orders large in scale compared with normal market size, standard market sizes and deferred publications and delays
Table 1
Orders large in scale compared with normal market size for shares and depositary receipts
|
Average daily turnover (ADT) in EUR |
ADT < 50 000 |
50 000 ≤ ADT < 100 000 |
100 000 ≤ ADT < 500 000 |
500 000 ≤ ADT < 1 000 000 |
1 000 000 ≤ ADT < 5 000 000 |
5 000 000 ≤ ADT < 25 000 000 |
25 000 000 ≤ ADT < 50 000 000 |
50 000 000 ≤ ADT < 100 000 000 |
ADT ≥ 100 000 000 |
|
Minimum size of orders qualifying as large in scale compared with normal market size in EUR |
15 000 |
30 000 |
60 000 |
100 000 |
200 000 |
300 000 |
400 000 |
500 000 |
650 000 |
Table 2
Orders large in scale compared with normal market size certificates and other similar financial instruments
|
Average daily turnover (ADT) in EUR |
ADT < 50 000 |
ADT ≥ 50 000 |
|
Minimum size of orders qualifying as large in scale compared with normal market size in EUR |
15 000 |
30 000 |
Table 3
Standard market sizes
|
Average value of transactions (AVT) in EUR |
AVT < 20 000 |
20 000 ≤ AVT < 40 000 |
40 000 ≤ AVT < 60 000 |
60 000 ≤ AVT < 80 000 |
80 000 ≤ AVT < 100 000 |
100 000 ≤ AVT < 120 000 |
120 000 ≤ AVT < 140 000 |
Etc. |
|
Standard market size |
10 000 |
30 000 |
50 000 |
70 000 |
90 000 |
110 000 |
130 000 |
Etc. |
Table 4
Deferred publication thresholds and delays for shares and depositary receipts
|
Average daily turnover (ADT) in EUR |
Minimum qualifying size of transaction for permitted delay in EUR |
Timing of publication after the transaction |
|
> 100 m |
10 000 000 |
60 minutes |
|
20 000 000 |
120 minutes |
|
|
35 000 000 |
End of the trading day |
|
|
50 m-100 m |
7 000 000 |
60 minutes |
|
15 000 000 |
120 minutes |
|
|
25 000 000 |
End of the trading day |
|
|
25 m-50 m |
5 000 000 |
60 minutes |
|
10 000 000 |
120 minutes |
|
|
12 000 000 |
End of the trading day |
|
|
5 m-25 m |
2 500 000 |
60 minutes |
|
4 000 000 |
120 minutes |
|
|
5 000 000 |
End of the trading day |
|
|
1 m-5 m |
450 000 |
60 minutes |
|
750 000 |
120 minutes |
|
|
1 000 000 |
End of the trading day |
|
|
500 000 -1 m |
75 000 |
60 minutes |
|
150 000 |
120 minutes |
|
|
225 000 |
End of the trading day |
|
|
100 000 -500 000 |
30 000 |
60 minutes |
|
80 000 |
120 minutes |
|
|
120 000 |
End of the trading day |
|
|
50 000 -100 000 |
15 000 |
60 minutes |
|
30 000 |
120 minutes |
|
|
50 000 |
End of the trading day |
|
|
< 50 000 |
7 500 |
60 minutes |
|
15 000 |
120 minutes |
|
|
25 000 |
End of the next trading day |
Table 5
Deferred publication thresholds and delays for ETFs
|
Minimum qualifying size of transaction for permitted delay in EUR |
Timing of publication after the transaction |
|
15 000 000 |
60 minutes |
|
50 000 000 |
End of the trading day |
Table 6
Deferred publication thresholds and delays for certificates and other similar financial instruments
|
Average daily turnover (ADT) in EUR |
Minimum qualifying size of transaction for permitted delay in EUR |
Timing of publication after the transaction |
|
ADT < 50 000 |
15 000 |
120 minutes |
|
30 000 |
End of the trading day |
|
|
ADT ≥ 50 000 |
30 000 |
120 minutes |
|
60 000 |
End of the trading day |