ADTV

ADTV is used in the context of Regulation M and refers to the worldwide average daily trading volume during the two full calendar months immediately preceding, or any 60 consecutive calendar days ending within the ten calendar days preceding, the filing of the registration statement; or, if there is no registration statement or if the distribution involves the sale of securities on a delayed basis pursuant to a shelf registration statement, two full calendar months immediately preceding, or any consecutive 60 calendar days ending within the ten calendar days preceding, the determination of the offering price.