Section 30(10)

If M engages in algorithmic trading to pursue a market making strategy M must, taking into account the liquidity, scale, and nature of the specific market and the characteristics of any financial instrument traded— carry out market making continuously during a specified proportion of the market or facility's trading hours, except under exceptional circumstances, with the result that liquidity is provided on a regular and predictable basis to that market or facility; if the specified circumstances arise, enter into a binding written agreement with the market or facility which— specifies the obligations of M under the agreement; imposes obligations on M that are in accordance with sub-paragraph (a); and includes the specified content; and have in place effective systems and controls to ensure that M meets the obligations under the agreement mentioned in sub-paragraph (b).

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