(a) Nature of the trading venue, in terms of:

(i) types and regulatory status of the instruments traded on the venue such as whether the trading venue trades liquid instruments subject to mandatory trading;

(ii) the role of the trading venue in the financial system such as whether the financial instruments traded on it can be traded elsewhere.

(b) Scale, in terms of potential impact of the trading venue on the fair and orderly functioning of the markets based on at least the following elements:

(i) the number of algorithms operating on the venue;

(ii) the messaging volume capacities of the venue;

(iii) the volume of trading executed on the venue;

(iv) the percentage of algorithmic trading over the total trading activity and the total turnover traded on the venue;

(v) the percentage of high-frequency trading (HFT) activity over the total trading activity and the total amount traded on the venue;

(vi) the number of its members and participants;

(vii) the number of its members providing DEA including, where applicable, the specific number of its members providing for sponsored access and the conditions under which DEA is offered or can be delegated;