PART 6Miscellaneous FCA functions in relation to the markets in financial instruments directive and markets in financial instruments regulation

Provision of information to ESMA about multilateral trading facilities etc42

1

The FCA must notify ESMA when a recognised investment exchange is permitted to operate a multilateral trading facility or an organised trading facility (as defined by Article 4.1.23 (definitions) of the markets in financial instruments directive) under the Part 18 of the Act.

2

If an investment firm, credit institution, or recognised investment exchange provides the FCA with any of the information specified in paragraph (3) about a multilateral trading facility operated by the firm, institution, or exchange the FCA must, on request, give the information to ESMA.

3

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

a

a detailed description of the functioning of the facility;

b

any links to another trading venue owned by the same exchange or to a systematic internaliser owned by the same exchange; and

c

a list of the facility's members, participants and users.

4

The FCA must as soon as reasonably practicable notify ESMA if the FCA—

a

registers a multilateral trading facility operated by a recognised investment exchange, credit institution, or recognised investment exchange as an SME growth market for the purposes of Article 33 (SME growth markets) of the markets in financial instruments directive; or

b

deregisters such a facility as an SME growth market.

5

In this regulation “SME growth market” has the same meaning as in Article 4.1.12 (definitions) of the markets in financial instruments directive.