Info
🔗 Back to Summary. 🇫🇷 French Version: 2017R0566_FR.1. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Retour au sommaire ⬅️ | ➡️ Article 2 – Obligation to calculate the ratio of unexecuted orders to transactions
Article 1 - Definitions
For the purposes of this Regulation, the following definitions shall apply:
(a)
‘order’ includes all input messages, including messages on submission, modification and cancellation sent to the trading system of a trading venue, relating to an order or a quote, but excluding cancellation messages sent subsequent to:
(i)
uncrossing in an auction;
(ii)
a loss of venue connectivity;
(iii)
the use of a kill functionality;
(b)
‘transaction’ means a totally or partially executed order;
(c)
‘volume’ means the quantity of financial instruments traded expressed as any of the following:
(i)
the number of instruments for shares, depositary receipts, ETFs, certificates and other similar financial instruments;
(ii)
the nominal value for bonds and structured finance products;
(iii)
the number of lots size or contracts for derivatives;
(iv)
metric tonnes of carbon dioxide for emission allowances.