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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]