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    2021-01-29

multilateral trading facility

      118(in accordance with article 3(1) of the Regulated Activities Order):

          1. 118(a) a UK132 multilateral trading facility (within the meaning of article 2(1)(14A) of MiFIR132) operated by an investment firm, a credit institution or a market operator; or
          1. 118(b) a facility which:
            1. 118(i) is operated by an investment firm, a qualifying credit institution132 or a market operator whose home State is not the United Kingdom132; and
            1. (ii) if its operator’s home State was the United Kingdom,132 would be a UK multilateral trading facility132 within the meaning of article 2(1)(14A) of MiFIR132. 118
            [Note: article 2(1)(14A) of MiFIR132]118