MAR 6.5 Obligations on systematic internalisers in shares to make public firm quotes

A systematic internaliser in shares when dealing in sizes up to standard market size must publish a firm quote in relation to any share admitted to trading on a regulated market for which it is:

1. (1)

   a systematic internaliser in that share; and

2. (2)

   there is a liquid market for that share.

[Note: Subparagraphs 1 and 2 of Article 27(1) of MiFID]

Where there is no liquid market for a share, the systematic internaliser must disclose quotes to its clients on request.

[Note: Subparagraph 1 of Article 27(1) of MiFID]

A systematic internaliser may:

1. (1)

   update a quote at any time; and

2. (2)

   under exceptional market conditions, withdraw a quote.

[Note: Subparagraph 1 of Article 27(3) of MiFID]