Table 1 Description of the type of trading systems and the related information to be made public in accordance with Article 3
|
Row |
Type of trading system |
Description of the trading system |
Information to be made public |
|
1 |
Continuous auction order book trading system |
A system that by means of an order book and a trading algorithm operated without human intervention matches sell orders with buy orders on the basis of the best available price on a continuous basis. |
The aggregate number of orders and the shares, depositary receipts, ETFs, certificates and other similar financial instruments that they represent at each price level for at least the five best bid and offer price levels. |
|
2 |
Quote-driven trading system |
A system where transactions are concluded on the basis of firm quotes that are continuously made available to participants, which requires the market makers to maintain quotes in a size that balances the needs of members and participants to deal in a comme |