(1) Without prejudice to the application of Regulation 33 to investment firm, when operating an MTF, an investment firm or a market operator shall -
(a) establish -
(i) transparent and non-discretionary rules and procedures for fair and orderly trading, and
(ii) objective criteria for the efficient execution of orders,
(b) establish transparent rules regarding the criteria for determining the financial instruments that can be traded within their systems,
(c) satisfy the Bank that there is access to sufficient publicly available information to enable the users of the MTF to form an investment judgement, taking into account both the nature of the users and the types of instruments traded,
(d) establish and maintain transparent rules, based on objective criteria governing access to the MTF facility and ensure that the rules comply with the conditions and requirements established under Regulation 66(3),
(e) clearly inform the users of the MTF of their respective responsibilities for t