liquid market
as defined in Directive 2014/65/EU of the European Parliament and of the Council of 15 May…, Article 4(1), point (25) (Definitions)
‘liquid market’ means a market for a financial instrument or a class of financial instruments, where there are ready and willing buyers and sellers on a continuous basis, assessed in accordance with the following criteria, taking into consideration the specific market structures of the particular financial instrument or of the particular class of financial instruments:
the average frequency and size of transactions over a range of market conditions, having regard to the nature and life cycle of products within the class of financial instrument;
the number and type of market participants, including the ratio of market participants to traded instruments in a particular product;
the average size of spreads, where available;
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Also defined in
- Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial… 32014R0600, Article 2(1), point (17)(a)
a market for a financial instrument or a class of financial instruments, where there are ready and willing buyers and sellers on a continuous basis, and where the market is assessed in accordance with the following criteria, taking into consideration the specific market structures of the particular…