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Trading facilities: Difference between revisions
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Amwelladmin (talk | contribs) m (Amwelladmin moved page Multilateral Trading Facility - FCA Rulebook Term to Multilateral Trading Facility) |
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Also known as an [[MTF]], defined in the {{tag|FCA}} handbook [http://fshandbook.info/FS/glossary-html/handbook/Glossary/M?definition=G2354 thus]: | {{a|mifid2|}}Also known as an [[MTF]], defined in the {{tag|FCA}} handbook [http://fshandbook.info/FS/glossary-html/handbook/Glossary/M?definition=G2354 thus]: | ||
{{quote|a multilateral system, operated by an {{fcaprov|investment firm}} or a market operator, which brings together multiple third-party buying and selling interests in financial instruments - in the system and in accordance with non-discretionary rules - in a way that results in a contract in accordance with the provisions of Title II of {{tag|MiFID}}. }} | {{quote|a multilateral system, operated by an {{fcaprov|investment firm}} or a market operator, which brings together multiple third-party buying and selling interests in financial instruments - in the system and in accordance with non-discretionary rules - in a way that results in a contract in accordance with the provisions of Title II of {{tag|MiFID}}. }} | ||
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A subject of some interest is to what extent one needs a client's permission to handle orders outside a {{cobsprov|regulated market}} or {{fcaprov|mtf}}. See COBS {{cobsprov|11.2.26}} for more on that fascinating topic. | A subject of some interest is to what extent one needs a client's permission to handle orders outside a {{cobsprov|regulated market}} or {{fcaprov|mtf}}. See COBS {{cobsprov|11.2.26}} for more on that fascinating topic. | ||
Under MiFID there is also an “[[organised trading facility]]” or “[[OTF]]”, but we can’t honestly be bothered writing an article about those. They are not regulatged marketsfor the purposes of [[MiFID]], even though you do need MiFID authorisation to operate one. | |||
{{cobsanatomy}} | {{cobsanatomy}} | ||