Q&A · ESMA
Systematic internaliser
Answered
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A systematic internaliser does matched principal trading only 'occasionally' if it has no systems intended to match opposite client orders, such trades are not a recurrent or significant source of revenue, and it does not market the activity.
Details
| Reference | ESMA_QA_1659 |
|---|---|
| Issuer | ESMA |
| Published | 3 Apr 2017 |
| Answered | 3 Apr 2017 |
| Submitted | 3 Apr 2017 |
| ESMA topics | Multilateral and bilateral systems |
| Earlier Q&A document | ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 5.27 |
Provisions it relates to
- Article 4 MiFID II · DefinitionsInferred · 85%
- MiFID II (whole act)Explicit reference