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)
a systematic internaliser in that share; and
- (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)
update a quote at any time; and
- (2)
under exceptional market conditions, withdraw a quote.
[Note: Subparagraph 1 of Article 27(3) of MiFID]