PART 4 U.K.Algorithmic trading etc by members of trading venues covered by certain exemptions from the markets in financial instruments directive

Provision of information to the FCA concerning algorithmic trading U.K.

31.—(1) If a member of, or participant in, a regulated market or multilateral trading facility (“M”)—

(a) engages in algorithmic trading;

(b) is subject to the requirements set out in regulation 30; and

(c) M's home Member State is the United Kingdom;

the FCA may require (“M”) to provide the information specified in paragraph (2) on a regular or ad hoc basis.

(2) The specified information for the purposes of paragraph (1) is—

(a) a description of the nature of M's algorithmic trading strategies;

(b) details of the trading parameters or limits to which M's trading systems are subject;

(c) information concerning the systems and controls M has in place to ensure M meets any requirements imposed on M by regulation 30(2) to (4) (“M's systems and controls”);

(d) details of M's testing of M's systems and controls for the purposes of regulation 30(5);

(e) any records M keeps for the purposes of regulation 30(8) and (9); and

(f) any further information about M's algorithmic trading and systems used for that trading.

(3) If M is engaged in algorithmic trading on a trading venue in an EEA State other than the United Kingdom the FCA must, on request, provide the competent authority for that trading venue with any information it receives from M under paragraph (1).