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The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001
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- UK Statutory Instruments
- 2001 No. 995
- SCHEDULE
- PART I
- Operation of a multilateral...
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Changes over time for: Cross Heading: Operation of a multilateral trading facility or an organised trading facility
Version Superseded: 31/07/2017
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Point in time view as at 03/07/2017.
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There are currently no known outstanding effects for The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001, Cross Heading: Operation of a multilateral trading facility or an organised trading facility .
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[F1Operation of a multilateral trading facility [F2or an organised trading facility] U.K.
Textual Amendments
F1Sch. para. 9A and cross-heading inserted (1.11.2007) by The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) (Amendment) Regulations 2006 (S.I. 2006/3386), regs. 1, 11
F2Words in Sch. para. 9A heading inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 1(16)(a) (with reg. 7)
9A.—(1) An exchange operating a multilateral trading facility [F3or an organised trading facility] must also operate a regulated market.U.K.
(2) An exchange operating a multilateral trading facility [F4or an organised trading facility] must comply with those requirements of—
(a)Chapter I of Title II of the markets in financial instruments directive, and
[F5(b)Commission Directive 2006/73/EC of 10 August 2006,]
[F5(b)any directly applicable EU regulation made under Chapter I,]
which are applicable to a market operator (within the meaning of the directive) operating such a facility.
(3) The requirements of this paragraph do not apply for the purposes of section 292(3)(a) of the Act (requirements for overseas investment exchanges and overseas clearing houses).
[F6(4) An exchange operating a multilateral trading facility or an organised trading facility must provide the FCA with a detailed description of—
(a)the functioning of the multilateral trading facility or organised trading facility;
(b)any links to another trading venue owned by the same exchange or to a systematic internaliser owned by the same exchange; and
(c)a list of the facility's members, participants and users.
(5) Any multilateral trading facility or an organised trading facility operated by the exchange must have at least three materially active members or users who each have the opportunity to interact with all the others in respect of price formation.]]
Textual Amendments
F3Words in Sch. para. 9A(1) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 1(16)(b) (with reg. 7)
F4Words in Sch. para. 9A(2) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 1(16)(c)(i) (with reg. 7)
F5Sch. para. 9A(2)(b) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 1(16)(c)(ii) (with reg. 7)
F6Sch. para. 9A(4)(5) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 1(16)(d) (with reg. 7)
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