Open on EUR-Lex ↗

Article 2 - Definitions

Article 2
Definitions

For the purposes of this Regulation, the following definitions shall apply:

((a))

‘passive order’ means an order entered into the order book that provided liquidity;

((b))

‘aggressive order’ means an order entered into the order book that took liquidity;

((c))

‘directed order’ means an order where a specific execution venue was specified by the client prior to the execution of the order.

Official text · the act as published Open full page ↗
7 queries · page built in 4 msInventory f82bbfa3