Regulation (EU) No 600/2014 is amended as follows:
(1) in Article 1, the following paragraph is inserted:
‘4a. Chapter 1 of Title VII of this Regulation also applies to third-country firms providing investment services or performing investment activities within the Union.’;
(2) in Title III, the title is replaced by the following:
‘TRANSPARENCY FOR SYSTEMATIC INTERNALISERS AND INVESTMENT FIRMS TRADING OTC AND TICK SIZE REGIME FOR SYSTEMATIC INTERNALISERS’;
(3) the following article is inserted:
Systematic internalisers’ quotes, price improvements on those quotes and execution prices shall comply with tick sizes set in accordance with Article 49 of Directive 2014/65/EU.
Application of tick sizes shall not prevent systematic internalisers matching orders large in scale at mid-point within the current bid and offer prices.’;
(4) Article 46 is amended as follows:
(a) in paragraph 2, the following point is added:
‘(d) the firm has established the nece
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