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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

organised trading facility

    86 (in accordance with article 3(1) of the Regulated Activities Order):

      1. (a) a UK96 organised trading facility (within the meaning of 2(1)(15A) of MiFIR96) 86operated by an investment firm, a qualifying credit institution or a market operator96; or
      1. (b) a facility which:
        1. (i) is operated by an investment firm, a qualifying credit institution or a market operator whose home State is not the United Kingdom96; and
        1. (ii) if its operator’s home State was the United Kingdom, would be a UK organised trading facility within the meaning of article 2(1)(15A) of MiFIR96.86

    [Note: article 2(1)(15A) of MiFIR96]