Part 1 Amendments to the Markets in Financial Instruments regulation
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

SCHEDULE 2 Transitional Amendments

Section 2

Part 1 Amendments to the Markets in Financial Instruments regulation

Introductory

1

Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments is amended in accordance with this Part of this Schedule.

Transparency requirements for equities

2

In Article 3 (pre-trade transparency requirements), after paragraph 3 insert—

“4

The FCA may make technical standards to specify—

(a)     the range of bid and offer prices, or designated market-maker quotes, to be made public for each class of financial instrument concerned in accordance with paragraph 1, and

(b)     the depth of trading interest at those prices.

5

In making technical standards under paragraph 4 the FCA must take into account the necessary calibration for the different types of trading systems referred to in paragraph 2.â€

3

For Article 4 substitute—

“Article 4
Waivers for equity instruments
1

The FCA may by rules provide for the obligation for market operators and investment firms operating a trading venue to make public the information referred to in Article 3(1) to be waived in such cases as the rules

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