Article 5 Impact on UK market liquidity and efficiency

In determining whether a market practice proposed to be established as an AMP complies with the criterion set out in point (c) of Article 13(2) of Regulation (EU) No 596/2014, the Financial Conduct Authority shall assess the impact the market practice has on at least the following elements:

  1. (a)

    volume traded;

  2. (b)

    number of orders in the order book (order depth);

  3. (c)

    speed of execution of the transactions;

  4. (d)

    volume weighted average price of a single session, daily closing price;

  5. (e)

    bid/offer spread, price fluctuation and volatility;

  6. (f)

    regularity of quotations or transactions.