7.

In order to ensure the uniform application of paragraphs 1 to 6, in a manner which supports the efficient valuation of shares and maximises the possibility of investment firms of obtaining the best deal for their clients, the Commission shall, in accordance with the procedure referred to in Article 64(2), adopt implementing measures which: specify the criteria for application of paragraphs 1 and 2; specify the criteria determining when a quote is published on a regular and continuous basis and is easily accessible as well as the means by which investment firms may comply with their obligation to make public their quotes, which shall include the following possibilities: through the facilities of any regulated market which has admitted the instrument in question to trading; through the offices of a third party; through proprietary arrangements; specify the general criteria for determining those transactions where execution in several securities is part of one transaction or orders that are subject to conditions other than current market price; specify the general criteria for determining what can be considered as exceptional market circumstances that allow for the withdrawal of quotes as well as conditions for updating quotes; specify the criteria for determining what is a size customarily undertaken by a retail investor. specify the criteria for determining what constitutes considerably exceeding the norm as set down in paragraph 6; specify the criteria for determining when prices fall within a public range close to market conditions.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.