Market Making Agreement Mifid Ii

(a) the financial instrument or the instruments covered by the agreement; According to MiFID II, a contract agreement must be concluded in writing. There will be a monetary incentive for members who meet the commitments of a MiFID II Market Maker in tense market conditions. This advantage is defined in the commercial service price list. (a) written agreements with all investment firms that have a market strategy in the regulated market; (c) the terms of the applicable market organisation scheme, if any; The commitments in the previous paragraph require (i) Market makers and other liquidity issuers (which facilitate transactions that are ultimately concluded on the trading platform) and (ii) trading platforms (where trading is definitively closed) must declare RTS 27. The aim is to ensure that performance quality data is provided, both for over-the-counter transactions and for transactions made in accordance with pre-trade transparency statements made in and out of the book, but in accordance with the rules of the venue of the event. This information is used to determine the quality of liquidity provided by Market Makern and other liquidity providers. Market Maker in der MiFID II refers to a person who, in the financial markets, always declares himself ready to act on his own behalf by buying and selling financial instruments for his own capital which are defined by him (Article 4, paragraph 1, point 7, MIF II). RTS 27 requires Market Maker and other liquidity providers to report on transactions involving financial instruments that are not subject to the trading obligation. This includes (i) transactions carried out on an over-the-counter basis or (ii) in accordance with the pre-boursagic non-transparency declarations provided for in Articles 4 and 9 of MIFR (except orders held in an order management mechanism of a trading platform until publication). In the latter case, both trading platforms, market makers and other liquidity providers will take these transactions into account in their RTS 27 reports. This is because the scope of reporting obligations for RTS 27 trading platforms covers all transactions on financial instruments, including those subject to the abandonment of pre-trade transparency (considering 6 of RTS 27). 3.

The written agreement in paragraph 2 must at least indicate that a “discount” must be provided so that it includes negative fees or direct payments to the liquidity donor, as well as refunds or discounts on fees owed by the liquidity giver to the trading platform. It follows from this interpretation that “builder/taker systems” in which financial incentives are granted to market participants to conclude transactions by the posting of passive orders, not only companies that are required to enter into a contract agreement in accordance with Article 17, paragraph 4, of MiFID II, but also other market agents under Article 4, paragraph 1, paragraph 7, of the MIF II Directive, provided they are subject to the corresponding market obligations. The main requirements to be included in the contract agreement arise from those articles 17, paragraph 3, points (a) and (b) of the contract agreement. Under these provisions, the contract agreement must at least specify: (g) the obligation to keep records of listings and firm transactions relating to the investment firm`s marketing activities, which are clearly distinct from other trading activities, and to make these records available to the trading platform and the relevant authority on request. Would any payment received from a trading platform for market activities or the provision of liquidity require a contract agreement? (b) rules ensuring that a sufficient number of investment firms participate in agreements that require them to account for firm listings at competitive prices, with the result that liquidity is regularly made available to the market when such a requirement is proportionate to the nature and extent of transactions in this regulated market.

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