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FCA Handbook
MAR
MAR 6
MAR 6.7 Prices reflecting prevailing market condit...

MAR 6.7 Prices reflecting prevailing market conditions

MAR 6.7.1R01/11/2007

A firm bid or offer price in respect of a particular share must reflect the prevailing market conditions for that share.

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

MAR 6.7.2EU01/11/2007

A systematic internaliser shall, for each liquid share for which it is a systematic internaliser, maintain the following:
(a)	a quote or quotes which are close in price to comparable quotes for the same share in other trading venues; and
(b)	a record of its quoted prices, which it shall retain for a period of 12 months or such longer period as it considers appropriate.
The obligation laid down in point (b) is without prejudice to the obligation of the investment firm under Article 25(2) [implemented at SUP 17.4.6 G] of [the MiFID] Directive 2004/39/EC to keep at the disposal of the competent authority for at least 5 years the relevant data relating to all transactions it has carried out.[Note: Article 24 of the MiFID Regulation]