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					<dc:identifier>http://www.legislation.gov.uk/eur/2012/826/chapter/IV</dc:identifier><dc:title>Commission Delegated Regulation (EU) No 826/2012 of 29 June 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and of the Council with regard to regulatory technical standards on notification and disclosure requirements with regard to net short positions, the details of the information to be provided to the European Securities and Markets Authority in relation to net short positions and the method for calculating turnover to determine exempted shares (Text with EEA relevance)</dc:title><dct:alternative>Commission Delegated Regulation (EU) No 826/2012</dct:alternative><dc:description>Commission Delegated Regulation (EU) No 826/2012 of 29 June 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and of the Council with regard to regulatory technical standards on notification and disclosure requirements with regard to net short positions, the details of the information to be provided to the European Securities and Markets Authority in relation to net short positions and the method for calculating turnover to determine exempted shares (Text with EEA relevance)</dc:description><dc:publisher>King's Printer of Acts of Parliament</dc:publisher><dc:source>https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32012R0826</dc:source><dc:type>text</dc:type><dc:format>text/xml</dc:format><dc:language>en</dc:language><dc:modified>2023-12-13</dc:modified><dc:contributor>Expert Participation</dc:contributor><dct:valid>2023-07-11</dct:valid>
					
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					<ukm:Alternatives><ukm:Alternative URI="http://www.legislation.gov.uk/eur/2012/826/pdfs/eur_20120826_adopted_en.pdf" Date="2012-09-18" Size="791502"/> </ukm:Alternatives>
					
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				</ukm:Metadata><EURetained><EUBody DocumentURI="http://www.legislation.gov.uk/eur/2012/826/body" IdURI="http://www.legislation.gov.uk/id/eur/2012/826/body" NumberOfProvisions="7" RestrictExtent="E+W+S+N.I." RestrictStartDate="2012-06-29"><EUChapter DocumentURI="http://www.legislation.gov.uk/eur/2012/826/chapter/IV" IdURI="http://www.legislation.gov.uk/id/eur/2012/826/chapter/IV" NumberOfProvisions="1" id="chapter-IV" RestrictExtent="E+W+S+N.I." RestrictStartDate="2012-06-29">
            <Number>CHAPTER IV</Number>
            <Title>
               <Strong>METHOD OF CALCULATION OF TURNOVER TO DETERMINE THE PRINCIPAL TRADING VENUE FOR A SHARE</Strong>
            </Title>
            <Title>
               <Strong>(ARTICLE 16 OF REGULATION (EU) No 236/2012)</Strong>
            </Title>
            <P1group RestrictStartDate="2012-06-29" RestrictExtent="E+W+S+N.I.">
               <Title>Turnover calculation to determine the principal venue for the trading of a share</Title>
               <P1 DocumentURI="http://www.legislation.gov.uk/eur/2012/826/article/6" IdURI="http://www.legislation.gov.uk/id/eur/2012/826/article/6" id="article-6">
                  <Pnumber>Article 6</Pnumber>
                  <P1para>
                     <P2 DocumentURI="http://www.legislation.gov.uk/eur/2012/826/article/6/1" IdURI="http://www.legislation.gov.uk/id/eur/2012/826/article/6/1" id="article-6-1">
                        <Pnumber PuncBefore="" PuncAfter=".">1</Pnumber>
                        <P2para>
                           <Text>When calculating turnover pursuant to Article 16 of Regulation (EU) No 236/2012, a relevant competent authority shall use the best available information, which may include:</Text>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">a</Pnumber>
                              <P3para>
                                 <Text>publicly available information;</Text>
                              </P3para>
                           </P3>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">b</Pnumber>
                              <P3para>
                                 <Text>transaction data obtained under Article 25(3) of Directive 2004/39/EC of the European Parliament and of the Council<FootnoteRef Ref="f00003"/>;</Text>
                              </P3para>
                           </P3>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">c</Pnumber>
                              <P3para>
                                 <Text>information from trading venues where the relevant share is traded;</Text>
                              </P3para>
                           </P3>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">d</Pnumber>
                              <P3para>
                                 <Text>information provided by another competent authority, including a competent authority of a third country;</Text>
                              </P3para>
                           </P3>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">e</Pnumber>
                              <P3para>
                                 <Text>information provided by the issuer of the relevant share;</Text>
                              </P3para>
                           </P3>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">f</Pnumber>
                              <P3para>
                                 <Text>information from other third parties, including data providers.</Text>
                              </P3para>
                           </P3>
                        </P2para>
                     </P2>
                     <P2 DocumentURI="http://www.legislation.gov.uk/eur/2012/826/article/6/2" IdURI="http://www.legislation.gov.uk/id/eur/2012/826/article/6/2" id="article-6-2">
                        <Pnumber PuncBefore="" PuncAfter=".">2</Pnumber>
                        <P2para>
                           <Text>In determining what constitutes the best available information, a relevant competent authority shall ensure so far as reasonably possible that:</Text>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">a</Pnumber>
                              <P3para>
                                 <Text>it uses publicly available information in preference to other sources of information;</Text>
                              </P3para>
                           </P3>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">b</Pnumber>
                              <P3para>
                                 <Text>the information covers all trading sessions during the relevant period, irrespective of whether the share traded during all of the sessions;</Text>
                              </P3para>
                           </P3>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">c</Pnumber>
                              <P3para>
                                 <Text>transactions received and included in the calculations are counted only once;</Text>
                              </P3para>
                           </P3>
                           <P3>
                              <Pnumber PuncBefore="(" PuncAfter=")">d</Pnumber>
                              <P3para>
                                 <Text>transactions reported through a trading venue but executed outside it are not counted.</Text>
                              </P3para>
                           </P3>
                        </P2para>
                     </P2>
                     <P2 DocumentURI="http://www.legislation.gov.uk/eur/2012/826/article/6/3" IdURI="http://www.legislation.gov.uk/id/eur/2012/826/article/6/3" id="article-6-3">
                        <Pnumber PuncBefore="" PuncAfter=".">3</Pnumber>
                        <P2para>
                           <Text>The turnover of a share on a trading venue shall be deemed to be zero where the share is no longer admitted to trading on that trading venue even if the share was admitted to trading on the trading venue during the relevant calculation period.</Text>
                        </P2para>
                     </P2>
                  </P1para>
               </P1>
            </P1group>
         </EUChapter></EUBody></EURetained><Footnotes><Footnote id="f00003">
         <FootnoteText>
            <Para>
               <Text>
                  <Citation id="c00003" Class="EuropeanUnionOfficialJournal" Year="2004" URI="https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2004.145.01.0001.01.ENG" Date="2004-04-30">OJ L 145, 30.4.2004, p. 1</Citation>.</Text>
            </Para>
         </FootnoteText>
      </Footnote></Footnotes></Legislation>