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Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes
Version date: 31 December 2020
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Article 15 Execution of client orders

1. Systematic internalisers shall make public their quotes on a regular and continuous basis during normal trading hours. They may update their quotes at any time. They shall be allowed, under exceptional market conditions, to withdraw their quotes.

Firms that meet the definition of systematic internaliser must notify the FCA in accordance with the rules of that authority.

The FCA must publish a list of the systematic internalisers in the United Kingdom for which it has received notifications.

The quotes shall be made public in a manner which is easily accessible to other market participants on a reasonable commercial basis.

2. Systematic internalisers shall, while complying with the rules in section 11.2A of the Conduct of Business sourcebook, Articles 64 to 66 of Regulation (EU) 2017/565, Regulation (EU) 2017/575 and Regulation (EU) 2017/576, execute the orders they receive from their clients in relation to the shares, depositary receipts, ETFs, certificates and other similar financi

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