Traduction de «gestionnaire analyse du marché » (Français → Anglais) :

(23) The relative importance of the activities of AIFM in some financial markets, especially in those cases where the AIF they manage do not have a material interest in the underlying products or instruments from which those markets derive, could, under some circumstances, hinder the efficient functioning of those markets.

Where the relevant market analyses indicate that the market conditions remain broadly constant, NRAs should apply a consistent regulatory approach over appropriate review periods.

evidence that the imposition and enforcement over a reasonable period, taking due account of regulatory best practice, of appropriate obligations amongst those identified in Articles 9 to 13, to achieve effective competition following a coordinated analysis of the relevant markets in accordance with the market analysis procedure set out in Article 16 of Directive 2002/21/EC (Framework Directive), has failed and would fail on a persistent basis to achieve effective competition and that there are important and persisting competition problems and market failures identified in several of the wholesale product markets analysed ;

5. Calls on the Commission to present an analysis in which the expected costs of an ownership unbundling for the Member States, the expected effects on investments in the networks as well as the benefits for the internal market and the customer respectively demonstrated; points out that the analysis should also take account of the question whether and if so which problems or costs occur if no unbundling is carried out by the state as well as whether the negative consequences differ between state and private ownership; suggests that, furthermore, the advantages of ownership unbundling relative to the independent regional market operator approach as regards the achievements of objectives should be analysed ...[+++];

The elements constituting this process include the definition of relevant markets in accordance with the Commission's Recommendation (8) on relevant product and service markets within the electronic communications sector susceptible to ex ante regulation in accordance with Directive 2002/21/EC (hereinafter referred to as ‘the Recommendation’), the analysis of the defined markets in accordance with the Commission's guidelines on market analysis and the assessment of significant market power under the Community regulatory framework for electronic communications networks and services (9), the designation of operators with significant market ...[+++] power and the imposition of ex ante obligations on operators so designated.

37. Whilst a prospective analysis of market conditions may in some cases lead to a market definition different from that resulting from a market analysis based on past behaviour(22), NRAs should nonetheless seek to preserve, where possible, consistency in the methodology adopted between, on the one hand, market definitions developed for the purposes of ex-ante regulation, and on the other hand, market definitions developed for the purposes of the application of the competition rules.