Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Article 9 Determination of reporting ranges

Execution venues shall report the executed transactions specified in Article 4 for the following ranges:

  1. (a)

    for all financial instruments other than money market instruments:

    1. (i)

      range 1: greater than EUR 0 and less than or equal to the Standard Market Size or the Size Specific to the financial instrument;

    2. (ii)

      range 2: greater than the Standard Market Size or the Size Specific to the financial instrument and less than or equal to Large in Scale;

    3. (iii)

      range 3: greater than Large in Scale.

  2. (b)

    for illiquid shares, exchange traded funds or certificates:

    1. (i)

      range 1: greater than EUR 0 and less than or equal to the smallest available Standard Market Size in that type of instrument;

    2. (ii)

      range 2: greater than the smallest available Standard Market Size in that type of instrument and less than or equal to Large in Scale;

    3. (iii)

      range 3: greater than Large in Scale.

  3. (c)

    for money market instruments:

    1. (i)

      range 1: greater than EUR 0 and less than or equal to EUR 10 million;

    2. (ii)

      range 2: greater than EUR 10 million and less than or equal to EUR 50 million;

    3. (iii)

      range 3: greater than EUR 50 million.