Definitions
Article 1
For the purposes of this Regulation, the following definitions shall apply: (a) ‘order’ includes all input messages, including messages on submission, modification and cancellation sent to the trading system of a trading venue, relating to an order or a quote, but excluding cancellation messages sent subsequent to: (i) uncrossing in an auction; (ii) a loss of venue connectivity; (iii) the use of a kill functionality; (b) ‘transaction’ means a totally or partially executed order; (c) ‘volume’ means the quantity of financial instruments traded expressed as any of the following: (i) the number of instruments for shares, depositary receipts, ETFs, certificates and other similar financial instruments; (ii) the nominal value for bonds and structured finance products; (iii) the number of lots size or contracts for derivatives; (iv) metric tonnes of carbon dioxide for emission allowances.