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.


Section 1 Pre-trade transparency for trading venues

Article 3 Pre-trade transparency obligations(Article 3(1) and (2) of Regulation (EU) No 600/2014)

  1. (1)

    Market operators and investment firms operating a trading venue shall make public the range of bid and offer prices and the depth of trading interest at those prices. The information is to be made public in accordance with the type of trading systems they operate as set out in Table 1 of Annex I.

  2. (2)

    The transparency requirements referred to in paragraph 1 shall also apply to any "actionable indication of interest" as defined in Article 2(1)(33) and pursuant to Article 8 of Regulation (EU) No 600/2014.