Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

MAR 5.4 Finalisation of transactions1

MAR 5.4.1 R RP

1A firm2 must:

  1. (1)

    clearly inform its users of their respective responsibilities for the settlement of transactions executed in its2MTF; and

  2. (2)

    have in place the arrangements necessary to facilitate the efficient settlement of the transactions concluded under its systems.

[Note: articles 18(6) and 19(3)(b)2 of MiFID]

[Note: in relation to derivative transactions, MiFID RTS 26 contains requirements on the systems for the clearing of such transactions]2