Article 25DA Operating an organised trading facilityF1
United Kingdom
The operation of an organised trading facility on which non-equity MiFID instruments are traded is a specified kind of activity.
Paragraph (1) does not apply to a kind of activity to which article 25DB applies.
In paragraph (1) a “non-equity MiFID instrument” means any investment—
of the kind specified by article 77, 77A, 78, 79, 80, 81, 82B, 83, 84 or 85; or
of the kind specified by article 89 so far as relevant to an investment falling within sub-paragraph (a),
that is a bond, a structured finance product (within the meaning of Article 2.1.28 of the markets in financial instruments regulation), an emission allowance, or a derivative (within the meaning of Article 2.1.29 of the markets in financial instruments regulation).
Annotations
Textual amendments
- F1
Art. 25DA inserted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488), arts. 1(2), 3
- F2
Art. 25DA(1A) inserted (30.1.2024 for specified purposes, 19.1.2026 in so far as not already in force) by The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), regs. 2(2)(3), 46(4) (with regs. 48-50); S.I. 2025/1078, reg. 5(b) (with reg. 12)