SCHEDULE 3Modifications of Chapter 3A of Part 18 of the Act in relation to recognised auction platforms and EEA market operators of auction platforms

Regulation 8

1.

In section 312A M1—

(a)

in subsection (1), reference to a specified F1trading venue is to be read as including a reference to a specified auction platform;

(b)

in subsection (2), reference to a market is to be read as including a reference to an auction platform.

2.

In section 312B—

(a)

in subsection (1), reference to a F2trading venue is to be read as including a reference to an auction platform;

(b)

in subsection (2), references to the markets in financial instruments directive are to be read as including references to the emission allowance auctioning regulation.

3.

In section 312C—

(a)

in subsection (1), reference to a F3trading venue is to be read as including a reference to an auction platform;

(b)

in subsection (5)(b), reference to the third sub-paragraph of Article F453.6 of the markets in financial instruments directive (in the case of relevant arrangements relating to a regulated market) is to be read as including a reference to that provision as applied to auction platforms by Article 35 of the emission allowance auctioning regulation (in the case of arrangements relating to a recognised auction platform).

4.

In section 312D, the definition of “applicable provision” shall be read as including, in addition to the cases set out in paragraphs (a) and (b)—

“(c)

in the case of arrangements relating to an auction platform, the first sub-paragraph of Article F553.6 of the market in financial instruments directive as applied to auction platforms under Article 35 of the emission allowance auctioning regulation;”.