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In this act Article 5 of 6

Article 5 — Average size of spreads

Financial servicesLevel 2RTSMiFIRIn forceOfficial source

5(1)

1.In relation to the average size of spreads, ESMA shall take into consideration the following elements:

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5(1)(a)
(a)the size of weighted spreads, including volume weighted spreads, over different periods of time;
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5(1)(b)
(b)spreads at different points in time of trading sessions.
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5(2)

2.Where information on spreads is not available, ESMA shall take into consideration a proxy for the assessment of this criterion.

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