(1) A regulated market shall adopt tick size regimes for shares, depositary receipts, exchange-traded funds, certificates and other similar financial instruments in accordance with the provisions of Commission Delegated Regulation (EU) 2017/588.
(2) A tick size regime shall -
(a) be calibrated to reflect the liquidity profile of the financial instrument in different markets and the average bid-ask spread, taking into account the desirability of enabling reasonably stable prices without unduly constraining further narrowing of spreads, and
(b) adapt the tick size for each financial instrument appropriately.
(3) The application of tick sizes shall not prevent regulated markets from matching orders large in scale at mid-point within the current bid and offer prices.