The study aims at assisting the Commission with the review of the recommendation on relevant markets, and will consist of: (i) an assessment of whether the boundaries of the relevant markets have to be adjusted, whether all the markets in the current recommendation (whether or not with adjusted boundaries) still warrant ex ante regulation or regulation should be withdrawn and whether any new markets (including trans-national ones) can be identified; and (ii) an assessment of the impact of altering the list of relevant markets.