- (1) This Regulation sets out the details of the data requests to be sent by the FCA and the details of the reply to those requests to be sent by trading venues and approved publication arrangements (APAs), for the purposes of calculating and adjusting the pre-trade and post-trade transparency and trading obligation regime and in particular for the purposes of determining the following factors:
- (a) whether equity and equity-like financial instruments have a liquid market;
- (b) the thresholds for pre-trade transparency waivers for equity and equity-like financial instruments;
- (c) the thresholds for post-trade transparency deferrals for equity and equity-like financial instruments;
- (d) when the liquidity of a class of financial instruments falls below a specified threshold;
- (e) [deleted]
- (f) the standard market size applicable to systematic internalisers dealing in equity and equity-like instruments; and
- (g) [deleted]
- (h) whether derivatives are sufficiently liquid for the purposes of implementing the trading obligation for derivatives.
You are viewing Article 1 Subject matter and scope as of Article 1 Subject matter and scope was last updated on 31/07/2026.