# Article 20 — Methodology for calculating the amount of revenues to be redistributed to eligible data contributors meeting the criterion under Article 27h(6), point (c), of Regulation (EU) No 600/2014 (Article 27h(6), point (c), (7), point (c), and (8), points (a) and (b), of Regulation (EU) No 600/2014) **Commission Delegated Regulation (EU) 2025/1155 · binding · OJ L, 2025/1155, 3.11.2025 · dated 12 Jun 2025 [in force]** *In force · Commission Delegated Regulation (EU) 2025/1155, OJ L, 2025/1155, 3.11.2025 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg_del/2025/1155/oj/eng)* 1. To determine whether an eligible data contributor meets the criterion laid down in Article 27h(6), point (c), of Regulation (EU) No 600/2014, the CTP for shares and ETFs shall, for each eligible data contributor, determine the total annual pre-trade transparent trading volume generated in shares and ETFs. For the purposes of the calculation referred to in the first subparagraph, the CTP for shares and ETFs shall include all transaction records received from the eligible data contributors which are not flagged as negotiated transactions subject to conditions other than the current market price (‘PRIC flag’), reference price transactions (‘RFPT flag’), negotiated transactions in liquid financial instruments (‘NLIQ flag’), negotiated transactions in illiquid financial instruments (‘OILQ flag’) as set out in Table 4 of Annex I to Delegated Regulation (EU) 2017/587, or as transactions subject to the pre-trade large in scale waiver as set out in Article 6(1), point (b). Transactions shall in all cases be single counted. 1. For each eligible data contributor meeting the criterion laid down in Article 27h(6), point (c), of Regulation (EU) No 600/2014, identified by segment MIC, as specified in ISO 10383, or by operating MIC whenever there is no segment MIC, the CTP for shares and ETFs shall multiply the relevant trading volume generated by that MIC, as determined under paragraph 1 of this Article, by a weighting of 1,5.