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Application provision

1.1 Unless otherwise stated, this Part applies to a CRR firm that engages in algorithmic trading.

1.1

03/01/2018

Unless otherwise stated, this Part applies to a CRR firm that engages in algorithmic trading.

1.2

03/01/2018

2.4 and 2.5 apply to a CRR firm that provides the services of direct electronic access to a trading venue.

1.3

03/01/2018

In this Part, the following definitions shall apply:

algorithmic trading

has the meaning given in Article 4(1)(39) of MiFID II.

direct electronic access

has the meaning given in Article 4(1)(41) of MiFID II.

trading venue

has the meaning given in Article 4(1)(24) of MiFID II.

1.4

03/01/2018

The definitions in MiFID II referred to in 1.3 shall be read on the basis that references in that directive to a ‘regulated market’, an ’MTF’ or an ‘OTF’ are references to:

  1. (1) a system falling within any of Articles 4(1)(21), (22) and (23) of MiFID II respectively; and
  2. (2) a system that is not situated in an EEA State that would have fallen within (1) had it been so situated.