(1) The market operator of a regulated market shall, for shares admitted to trading, make public on reasonable commercial terms and on a continuous basis during normal trading hours -
(a) current bid and offer prices, and
(b) the depth of trading interests at those prices which are advertised through the regulated market’s systems.
(2) The market operator of a regulated market may give access, on reasonable commercial terms and on a non-discriminatory basis, to the arrangements that the regulated market employs for making public the information referred to in paragraph (1) to investment firms that are obliged to publish their quotes in shares pursuant to Regulation 114.
(3) The Bank may waive the obligation under paragraph (1) -
(a) based on the market model or the type and size of orders in the cases defined in accordance with Commission Regulation (EC) 1287/2006, or
(b) for transactions that are large in scale compared with transactions of normal market size for the share or t