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Dealing on own account: Difference between revisions
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3(3). The net outstanding notional values referred to in paragraph 1 shall be determined pursuant to the netting methodology of Article 5(2). | 3(3). The net outstanding notional values referred to in paragraph 1 shall be determined pursuant to the netting methodology of Article 5(2). | ||
3(4). The values resulting from the aggregation referred to in this Article shall be denominated in euro.}} | 3(4). The values resulting from the aggregation referred to in this Article shall be denominated in euro. | ||
[...] | |||
Article 6: '''Procedure for calculation''' <br> | |||
1. The calculation of the [[De minimis threshold test|De-Minimis Threshold Test]] referred to in Article 3 shall be determined by reference to three annual calculation periods that precede the date of calculation, where the simple average of the resulting annual values shall be compared with the threshold referred to in Article 2(1)(a). The calculation of the size of the trading activities and capital employed referred to in Articles 4 and 5 shall be based on a simple average of the daily trading activities or estimated capital allocated to such trading activities, during three annual calculation periods that precede the date of calculation. The calculations shall be carried out annually in the first quarter of the calendar year that follows an annual calculation period, where the simple average of the resulting annual values shall be compared with the respective thresholds referred to in Article 2(1)(b) and (c).}} | |||
}} | }} | ||
===Dealing on own account generally=== | ===Dealing on own account generally=== | ||