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Broadly, a [[stock exchange]], [[futures exchange]], or any other organized market which brings together orders in a certain type of security and doesn't look like an OTC transaction. In the {{tag|EU}} parlance ({{tagMiFID}} and all that kind of jazz) called a {{tag|Regulated Market}}, and usually contrasted with a [[systematic internaliser]] (where a [[broker]] matches buys and sells on an [[OTC]] basis in its own order book). The question is whether a dark pool, a kind of [[multilateral trading facility]] counts as an exchange.
{{a|cobs|}}Broadly, a [[stock exchange]], [[futures exchange]], or any other organised [[venue]] which brings together bids and offers in certain types of [[securities]] and doesn’t look like an [[over-the-counter]] transaction. In the {{tag|EU}} parlance ({{tag|MiFID}} and all that kind of jazz) called a {{tag|Regulated Market}}, and usually contrasted with a [[systematic internaliser]] (where a [[broker]] matches buys and sells on an [[OTC]] basis in its own order book). The question is whether a dark pool, a kind of [[multilateral trading facility]] counts as an exchange.


{{anat|COBS}}
===See also===
*[[Venue]]
*[[OTC]]
*[[MTF]] or [[multilateral trading facility]]
*[[Regulated market]]

Latest revision as of 09:38, 15 March 2019

The JC’s Reg and Leg resource™
UK Edition


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Broadly, a stock exchange, futures exchange, or any other organised venue which brings together bids and offers in certain types of securities and doesn’t look like an over-the-counter transaction. In the EU parlance (MiFID and all that kind of jazz) called a Regulated Market, and usually contrasted with a systematic internaliser (where a broker matches buys and sells on an OTC basis in its own order book). The question is whether a dark pool, a kind of multilateral trading facility counts as an exchange.

See also