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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.

market maker

      1. 45(1) (except in COBS and DTR8179)68 (in relation to an investment) a person who (otherwise than in his capacity as the operator of a regulated collective investment scheme) holds himself out as able and willing to enter into transactions of sale and purchase in investments of that description at prices determined by him generally and continuously rather than in respect of each particular transaction.
      1. (2) (in COBS81132) a person who holds himself or herself132 out on the financial markets on a continuous basis as being willing to deal on own account by buying and selling financial instruments against that person’s132 proprietary capital at prices defined by that person132.

    [Note: article 4(1)(7)118 of MiFID]

      1. 79(3) [deleted]79
      1. (4) (in DTR) a person who holds himself or herself out on the financial markets on a continuous basis as being willing to deal on own account by buying and selling financial instruments against that person’s proprietary capital at prices defined by that person.132