8.3.2 Issues raised by stakeholders

The focus of discussions and feedback since the implementation of PRIIPs has been on the slippage methodology. The approach in the current PRIIPs Delegated Regulation intends to capture the difference between the price that is actually paid for an asset and the market price that existed at the time that the PRIIP manufacturer decided to transact. It captures the bid-ask spread (i.e. the difference between the price that you can get for selling an instrument compared to the listed price to buy that instrument or vice versa), as well as what is called the market impact - the effect that an order has on the market price during the time that it is in the market, i.e. the time where the transaction is actually being carried out. [For example, if a very large order for selling a share or other security is made, the order could result in the market price for that share falls (i.e. the trade results in the market moving against the seller). It can also be noted that an order can be in the mark

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