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MAR 6.6 Size and content of quotes

MAR 6.6.1R
  1. (1)

    A systematic internaliser may decide the size or sizes at which it will quote.

  2. (2)

    The quote can be up to standard market size for the class of shares to which the share belongs.

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

MAR 6.6.2R

Each quote must include:

  1. (1)

    a firm bid price; or

  2. (2)

    a firm offer price;

in respect of each size for which the systematic internaliser quotes.

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

MAR 6.6.3G

A systematic internaliser is not obliged to publish firm quotes in relation to transactions above standard market size.[Note: Recital 51 to MiFID]