Factors to be taken into account when considering market practices
1.1 For the purposes of applying the definitions of "inside information" and "market manipulation" in Regulation 2(1), the following non-exhaustive factors shall be taken into account by the Bank, without prejudice to collaboration with other authorities when assessing whether they can accept a particular market practice -
(a) the level of transparency of the relevant market practice to the whole market,
(b) the need to safeguard the operation of market forces and the proper interplay of the forces of supply and demand,
(c) the degree to which the relevant market practice has an impact on market liquidity and efficiency,
(d) the degree to which the relevant practice takes into account the trading mechanism of the relevant market and enables market participants to react properly and in a timely manner to the new market situation created by that practice,
(e) the risk inherent in the relevant practice