MAR 6.3A (Quality of execution) and MAR 6.4A (Quotes in respect of non-equity instruments) apply to the following firms when dealing in the United Kingdom:2

1. (1)

   a MiFID investment firm which is a systematic internaliser2; or

2. (2)

   a third country investment firm which is a systematic internaliser2.

[Note: article 35(8) of MiFID]2

The systematic internaliser reporting requirement in MAR 6.4.1 R applies to an investment firm which is authorised by the FCA .

[Note: articles 15(1) and 18(4) of MiFIR]2

2 GEN 2.2.22AR applies to ensure that a third country investment firm should not be treated in a more favourable way than an EEA firm.

An investment firm1must promptly notify the FCA in writing of its status as a systematic internaliser1:

1. (1)

   when it gains that status; or

2. (2)

   if it ceases to have that status.

[Note:articles 15(1) and 18(4) of MiFIR1]

1An investment firm is not subject to the publication obligations of article 18 of MiFIR if:

1. (1)

   it makes an assessment in writing certifying that it meets the conditions specified and measures adopted under article 9 of MiFIR for the waiver; and

2. (2)

   the FCA has not objected to the assessment.

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