MULTILATERAL TRADING FACILITY

It is a multilateral facility operated and/or managed by an investment firm or market operator “ [...] which brings together multiple third-party buying and selling interests in financial instruments [...] in a way that results in a contract in accordance with the provisions of Title II [of Directive 2004/39/EC-MiFID, Ed.]”.  In the same way, the Italian Consolidated Law (TUF) defines “management of multilateral trading facilities” as the “ […] management of multilateral facilities that allows, in the system and in accordance with non-discretionary rules, the meeting of multiple third-party buying and selling interests in financial instruments, so as to generate contracts (article 1, paragraph 5-octies)”.
Editor: Maria Giovanna CERINI
© 2010 ASSONEBB