F1TITLE III
TRANSPARENCY FOR SYSTEMATIC INTERNALISERS AND INVESTMENT FIRMS TRADING OTC AND TICK SIZE REGIME FOR SYSTEMATIC INTERNALISERS
Article 23F2Investment firms operating internal matching systems
F31.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F41A.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
An investment firm that operates an internal matching system which executes client orders in shares, depositary receipts, ETFs, certificates and other similar financial instruments on a multilateral basis must ensure it F5has permission to operate a multilateral trading facility under Part 4A of FSMA and comply with all relevant provisions pertaining to F6such permissions.
F73.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F84.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F95.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F106.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .