CHAPTER II U.K. ACCEPTED MARKET PRACTICES

SECTION 2 U.K. Specification of the criteria to consider when establishing accepted market practices

Article 5 U.K. 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.