On 1 December 2014 we consulted on Guidance Consultation GC14/9[2] which set out the FCA’s Good Practice Observations relating to MTF operator rulebooks.
The consultation period for GC14/9 ended on 16 January 2015 and we have considered the responses and are now publishing Finalised Guidance FG15/6 which sets out:
- A summary of feedback received and our response.
- Changes to our guidance.
- Finalised guidance.
The finalised guidance sets out the key MAR 5 requirements and the FCA’s Good Practice Observations relating to MTF operator rulebooks.
In particular MAR 5.3.1 (Trading Process Requirements) requires that 'a firm operating an MTF must have transparent and non-discretionary rules and procedures for fair and orderly trading.'
The FCA expects that an MTF operator will have a rulebook in place and the rulebook will be publicly available on the MTF operator’s website.
For any queries relating to this guidance please contact the MTF Supervision team at [email protected]