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Version status: Amended | Document consolidation status: Updated to reflect all known changes
Version date: 28 March 2024 - onwards
  Version 4 of 4    

Article 14 Obligation for systematic internalisers to make public firm quotes in respect of shares, depositary receipts, ETFs, certificates and other similar financial instruments

1. Investment firms shall make public firm quotes in respect of those shares, depositary receipts, ETFs, certificates and other similar financial instruments traded on a trading venue for which they areĀ systematic internalisers and for which there is a liquid market.

Where there is not a liquid market for theĀ financial instruments referred to in the first subparagraph, systematic internalisers shall disclose quotes to their - upon request.

2.This Article and Articles 15, 16 and 17 shall apply to systematic internalisers when they deal in sizes of up to and including the threshold determined in the regulatory technical standards adopted pursuant to paragraph 7, point (b), of this Article.

3. The minimum quote size of systematic internalisers shall be determined in the regulatory technical standards adopted pursuant to paragraph 7, point (c). For a particular share, depositary receipt, ETF, certificate or other similar financial instrument traded on a trading venue, each quote shall in

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