art_21__para_1
1. The RtM K‐factor requirement for the trading book positions of an investment firm dealing on own account, whether for itself or on behalf of a client shall be either K‐NPR calculated in accordance with Article 22 or K‐CMG calculated in accordance with Article 23.
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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.