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Home Financial Services & Banking MiFID I Implementing Regulation

Chapter IV · MARKET TRANSPARENCY  ›  Section 2 · Pre-trade transparency for systematic internalisers › Article 23

(Fourth subparagraph of Article 27(1) of Directive 2004/39/EC)

Standard market size

In order to determine the standard market size for liquid shares, those shares shall be grouped into classes in terms of the average value of orders executed in accordance with Table 3 in Annex II.

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