CHAPTER V DETERMINATION OF THE PRINCIPAL TRADING VENUE FOR THE EXEMPTION [ARTICLE 16 OF REGULATION (EU) No 236/2012]

Article 9 Date and period for principal trading venue calculations

  1. (1)

    The FCA shall make any calculations determining the principal trading venue for a share by IP completion day in respect of the two-year period preceding that date.

  2. (2)

    Subsequent calculations shall be made every two years thereafter in respect of the subsequent two year period.

  3. (3)

    Where the share concerned was not admitted to trading during the whole two-year period on the trading venue in the UK and the third country trading venue, the period for calculation shall be the period during which the share was admitted to trading on both venues concurrently.