Specification of the notion of liquidity fragmentation
liquidity fragmentation’ means a situation in which:
However, this should not lead to interoperability for derivatives clearing or create liquidity fragmentation.
In order to ensure consistent application of this Article, ESMA shall develop draft regulatory technical standards specifying the notion of liquidity fragmentation.
However, this should not lead to interoperability for derivatives clearing or create liquidity fragmentation.
Consequently, a possible danger of fragmentation of liquidity that is present at the existing market places is very limited.
Consequently, a possible danger of fragmentation of liquidity that is present at the existing market places is very limited.
would not threaten the smooth and orderly functioning of the markets, in particular due to liquidity fragmentation, or would not adversely affect systemic risk.
Requêtes fréquentes français :1-200, -1k, -2k, -3k, -4k, -5k, -7k, -10k, -20k, -40k, -100k, -200k, -500k, -1000k,
Requêtes fréquentes anglais :1-200, -1k, -2k, -3k, -4k, -5k, -7k, -10k, -20k, -40k, -100k, -200k, -500k, -1000k,
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