MAR 6.10 Execution price of retail client orders
A systematic internaliser must, while complying with the obligation to execute orders on terms most favourable to the client set out in 1 COBS 11.2 1 , execute an order up to standard market size received from a retail client in relation to shares for which it is a systematic internaliser:
- (1)
at the price quoted at the time of the reception of the order; or
- (2)
if the order does not match the quotation size or sizes, in compliance with the execution price rules in MAR 6.12.1 R or MAR 6.12.2 R.
[Note: Subparagraphs 3 and 6 of Article 27(3) of MiFID]