Schedule 3, paragraph 3E

The exchange's fee structure, for all fees it charges including execution fees and ancillary fees and rebates it grants, must— be transparent, fair and non-discriminatory; not create incentives to place, modify or cancel orders, or execute transactions, in a way which contributes to disorderly trading conditions or market abuse; and impose market making obligations in individual shares or suitable baskets of shares for any rebates that are granted. Nothing in sub-paragraph (1) prevents the exchange from— in order to reflect the additional burden on system capacity. adjusting its fees for cancelled orders according to the length of time for which the order was maintained; calibrating its fees to each financial instrument to which they apply; imposing a higher fee— for placing an order which is cancelled than an order which is executed; on participants placing a high ratio of cancelled orders to executed orders; or on a person operating a high-frequency algorithmic trading technique,

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