MAR 6.6 Size and content of quotes
- (1)
A systematic internaliser may decide the size or sizes at which it will quote.
- (2)
The quote can be up to standard market size for the class of shares to which the share belongs.
[Note: Subparagraph 3 of Article 27(1) of MiFID]
Each quote must include:
- (1)
a firm bid price; or
- (2)
a firm offer price;
in respect of each size for which the systematic internaliser quotes.
[Note: Subparagraph 3 of Article 27(1) of MiFID]
A systematic internaliser is not obliged to publish firm quotes in relation to transactions above standard market size.[Note: Recital 51 to MiFID]