Glossary

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Term Definition Legal instruments

OTF

31/12/2020

This defined term is effective from 23:00 on 31/12/2020.

means a multilateral system which is not a regulated market or an MTF and in which multiple third-party buying and selling interests in bonds, structured finance products, emission allowances or derivatives are able to interact in the system in a way that results in a contract in accordance with provisions implementing Title II of MiFID II.