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Article 23 › 2

MiFIR

An investment firm that operates an internal matching system which executes client orders in shares, depositary receipts, ETFs, certificates and other similar financial instruments on a multilateral basis must ensure it is authorised as an MTF under Directive 2014/65/EU and comply with all relevant provisions pertaining to such authorisations.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04