TITLE III U.K. [F1 TRANSPARENCY FOR SYSTEMATIC INTERNALISERS AND INVESTMENT FIRMS TRADING OTC AND TICK SIZE REGIME FOR SYSTEMATIC INTERNALISERS]

Article 23 U.K. [F2 Investment firms operating internal matching systems]

F3 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4 1A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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 [F5 has permission to operate a multilateral trading facility under Part 4A of FSMA] and comply with all relevant provisions pertaining to [F6 such permissions].

F7 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F8 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F9 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F10 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2 Art. 23 heading substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(3) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F3 Art. 23(1) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F4 Art. 23(1A) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F5 Words in Art. 23(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 28(10)(b)(i) (as amended by S.I. 2019/710, regs. 1(2), 16(12)); 2020 c. 1, Sch. 5 para. 1(1)

F6 Words in Art. 23(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 28(10)(b)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F7 Art. 23(3) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F8 Art. 23(4) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F9 Art. 23(5) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F10 Art. 23(6) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

Textual Amendments

F1 Substituted by Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014 (Text with EEA relevance).