alternative trading system

7a system that brings together multiple buying and selling interests in designated investments (other than life policies orstakeholder pension schemes or rights to or interests in life policies or stakeholder pension schemes), in the system and according to non-discretionary rules set by the system's operator in a way that results in a contract but does not include:

1. (a) a system that is operated by an RIE or that is regulated market or an EEA commodities market; or
1. (b) a bilateral system.