(1) An investment firm authorised to execute orders on behalf of clients shall implement procedures and arrangements which -
(a) provide for the prompt, fair and expeditious execution of client orders by that investment firm relative to,
(ii) the trading interests of that investment firm, and
(b) provide for the execution of comparable client orders in accordance with the time of their receipt by the investment firm.
(2) In the case of a client limit order that -
(a) is for shares admitted to trading on a regulated market, and
(b) is not immediately executed under prevailing market conditions,
unless the client otherwise expressly instructs the investment firm concerned, the firm shall take measures to facilitate the earliest possible execution of the order by making the order public without delay, in a manner easily accessible to other market participants.
(3) An investment firm is deemed to comply with paragraph (2) if the firm transmits the client li