Schedule 2, paragraph 42(4)

After subsection (1) insert— In this Part a trading venue or systematic internaliser falls under the FCA's jurisdiction if— the United Kingdom is the home Member State (as defined by Article 4.1.55 of the markets in financial instruments directive) of— in the case of a trading venue which is a regulated market (as defined by Article 4.1.21 of the directive), the regulated market; in the case of a trading venue which is a multilateral trading facility (as defined by Article 4.1.22 of the directive), the person operating the facility; in the case of a trading venue which is an organised trading facility (as defined by Article 4.1.23 of the directive), the person operating the facility; or in the case of a systematic internaliser, the systematic internaliser; or in the case of a systematic internaliser does not fall within the FCA's jurisdiction by virtue of paragraph (a)— it has established a branch (as defined by Article 4.1.30 of the directive) in the United Kingdom; and the FCA considers that it is necessary to impose a requirement on the systematic internaliser under section 313CA(2), 313CB(2), or 313CC(2) for the purposes of Article 32.2 or 52.2 ... of the markets in financial instruments directive.

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Source: legislation.gov.uk · retrieved 2026-09-04