# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Article 25D: Operating a multilateral trading facility

Extent: E+W+S+N.I.

(1) The operation of a multilateral trading facility on which MiFID instruments are traded is a specified kind of activity.
(1A) Paragraph (1) does not apply to a kind of activity to which article 25DB applies.
(2) In paragraph (1), “MiFID instrument” means any investment—
(a) of the kind specified by article 76, 77, 77A, 78, 79, 80, 81, 82B, 83, 84 or 85; or
(b) of the kind specified by article 89 so far as relevant to an investment falling within sub-paragraph (a),
that is a financial instrument.

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Source: https://www.legislation.gov.uk/uksi/2001/544/article/25D (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-25D
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.