OpenLegislation

Article 23 Investment firms operating internal matching systemsF1F10

United Kingdom

Original text. Later amendments are not shown.

F21.

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F3(1A.)

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2.

An investment firm that operates an internal matching system which executes client orders in shares, depositary receipts, ETFs, certificates and other similar financial instruments on a multilateral basis must ensure it F4has permission to operate a multilateral trading facility under Part 4A of FSMA and comply with all relevant provisions pertaining to F5such permissions.

F63.

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F7(4.)

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F8(5.)

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F9(6.)

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Annotations

Textual amendments

F1

Regulation revoked (5.4.2024 for the revocation of Sch. 3 paras. 17, 34-39, 1.12.2025 for the revocation of Art. 18b, 30.3.2026 for the revocation of Arts. 4, 4a) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 1 (with s. 1(4)); S.I. 2023/1382, reg. 4(b); S.I. 2025/1078, regs. 4(b), 6(b)

F2

Art. 23(1) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F3

Art. 23(1A) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F4

Words in Art. 23(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 28(10)(b)(i) (as amended by S.I. 2019/710, regs. 1(2), 16(12)); 2020 c. 1, Sch. 5 para. 1(1)

F5

Words in Art. 23(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 28(10)(b)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F6

Art. 23(3) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F7

Art. 23(4) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F8

Art. 23(5) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F9

Art. 23(6) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(2) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

F10

Art. 23 heading substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 13(3) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(i)(cc)

Notes on Title III

Textual amendments

F2

Substituted by Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014 (Text with EEA relevance).