In fact, many of the key markets identified in GMAP are also priority markets for the Canadian aerospace industry, including markets like China, India, Brazil, Mexico, UAE, Russia, the United States, France, Germany, the U.K., and Japan.

5. The competent national authorities of the Member State referred to in the second subparagraph of paragraph 4 of this Article designated under Article 48(1) of Directive 2004/39/EC shall decide on the authorisation of a regulated market appointed, or to be appointed, pursuant to Article 26(1) or 30(1) of this Regulation, provided that the regulated market and its market operator comply with the provisions of Title III of Directive 2004/39/EC, as transposed into the national legal order of the Member State of their establishment pursuant to paragraph 4 of this Article.

2. Member States where a regulated market appointed as an auction platform or its market operator are supervised, shall ensure that any decisions made by the extra-judicial mechanism dealing with complaints referred to in paragraph 1 of this Article are properly reasoned and are subject to the right to apply to the courts referred to in Article 52(1) of Directive 2004/39/EC.

8. These guidelines specifically address the following subjects: (a) market definition; (b) assessment of SMP; (c) SMP designation; and (d) procedural issues related to all of these subjects.

It is difficult to foresee any circumstances that would justify urgent action to define a market or designate an SMP operator, as such measure are not those that can be carried out immediately.

Mr. Willie Grieve: My understanding is it's a European term for the concept in North America of dominant supplier, or a supplier with market power—someone who can influence prices and dictate prices, quality, and outcomes in the market because they're so big.