# Article 4 — Calculation of the average number and average aggregate value of transactions **Commission Delegated Regulation (EU) 2025/298 · binding · OJ L, 2025/298, 13.2.2025 · dated 31 Oct 2024 [in force]** *In force · Commission Delegated Regulation (EU) 2025/298, OJ L, 2025/298, 13.2.2025 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg_del/2025/298/oj/eng)* 1. The issuer shall calculate the quarterly average number and average aggregate value of transactions per day referred to in [Article 22(1)](../../articles/22.md), point (d), of Regulation (EU) 2023/1114 for each single currency area, as this information stands on the following reporting reference dates: 31 March, 30 June, 30 September and 31 December. 2. The value of the transactions referred in paragraph 1 shall be reported in the official currency of the home Member State of the issuer. 3. The issuer shall determine the value of the transactions referred to in paragraph 1 as follows:\ a) where the basket of assets referenced by the asset referenced token includes one or more official currencies that are different from the official currency referred to in paragraph 2 of this Article, the issuer shall determine the value of the respective transactions per day by using the relevant exchange rates applicable at the end of each calendar day during the applicable reporting period in accordance with the valuation, or the principles of valuation, of the asset referenced token referred to in [Article 39(2)](../../articles/39.md), point (c), of Regulation (EU) 2023/1114;\ b) where the basket of assets referenced by the asset referenced token includes assets other than an official currency, the issuer shall determine the value of the respective transactions per day by using market prices calculated at the end of each calendar day during the applicable reporting period, whenever possible, in accordance with the valuation, or the principles of valuation, of the asset referenced token referred to in [Article 39(2)](../../articles/39.md), point (c), and [Article 36(11)](../../articles/36.md) and (12) of Regulation (EU) 2023/1114;\ c) with respect to e-money tokens denominated in a currency that is not an official currency of a Member State, the issuer shall determine the value of the respective transactions per day by using the relevant exchange rates applicable at the end of each calendar day during the applicable reporting period.\