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→The four-fold test
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# '''Initiation''': Which party initiates the transaction; <br> | # '''Initiation''': Which party initiates the transaction; <br> | ||
# '''Market Practice''': Questions of market practice and the existence of a convention to "shop | # '''Market Practice''': Questions of market practice and the existence of a convention to "shop around"; <br> | ||
around" | |||
# '''Price Transparency''': The relative levels of price transparency within a market; <br> | # '''Price Transparency''': The relative levels of price transparency within a market; <br> | ||
# '''Available information''': The information provided by the firm and any agreement reached. <br> | # '''Available information''': The information provided by the firm and any agreement reached. <br> | ||