Regulatory AlertsFG15/6 - Multilateral Trading Facilities (MTFs)
The Financial Conduct Authority published Finalised Guidance FG15/6 to establish Good Practice Observations for Multilateral Trading Facility operator rulebooks following a consultation period. This guidance clarifies MAR 5 requirements, specifically mandating that MTFs maintain transparent, non-discretionary rules to ensure fair and orderly trading. Operators are expected to implement these rules and make their rulebooks publicly available on their websites.
FG15/6: Multilateral Trading Facilities (MTFs) – Dear CEO Letter and FCA Good Practice Observations on MTF Rulebooks
On 1 December 2014 we consulted on Guidance Consultation GC14/9 which set out the FCA’s Good Practice Observations relating to MTF operator rulebooks.
The consultation period for GC14/9 ended on 16 January 2015 and we have considered the responses and are now publishing Finalised Guidance FG15/6 which sets out:
A summary of feedback received and our response.
Changes to our guidance.
Finalised guidance.
The finalised guidance sets out the key MAR 5 requirements and the FCA’s Good Practice Observations relating to MTF operator rulebooks.
In particular MAR 5.3.1 (Trading Process Requirements) requires that 'a firm operating an MTF must have transparent and non-discretionary rules and procedures for fair and orderly trading.'
The FCA expects that an MTF operator will have a rulebook in place and the rulebook will be publicly available on the MTF operator’s website.
For any queries relating to this guidance please contact the MTF Supervision team at MTFSupervision@fca.org.uk
Was this page useful?
Yes
No
What can we do to improve pages like this?
What did you find helpful?
Leave this field blank