Regulated market - FCA Rulebook Term

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Warning — relevant regulations (like MiFID 2) have changed so this article may be out of date. Proceed with caution.

FCA definition of Regulated Market

(1) a multilateral system operated and/or managed by a market operator, which brings together or facilitates the bringing together of multiple third-party buying and selling interests in financial instruments - in the system and in accordance with its non-discretionary rules - in a way that results in a contract, in respect of the financial instruments admitted to trading under its rules and/or systems, and which is authorised and functions regularly and in accordance with the provisions of Title III of MiFID.

Interesting if you are trying to work out whether a client must give permission for execute transactions outside a regulated market or MTF - see COBS 11.2.26. It will be limited to markets operating inside the European Union that is authorised under Title III of MiFID. This means if your product is only admitted to trading on a market outside the European Union, then you will not need to get permission to handle orders outside a regulated market or MTF.