MT
Multilateral Trading Facilities and Organised Trading Facilities
Statutory Text (4 Articles)
Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 21,515, 3 ta’ Ottubru, 2025 B 1947
L.N. 213 of 2025
FINANACIAL MARKETS ACT
(CAP. 345)
INVESTMENT SERVICES ACT
(CAP. 370)
Multilateral Trading Facilities and Organised Trading Facilities
(Amendment) Regulations, 2025
IN EXERCISE of the powers conferred by article 49 of the
Financial Markets Act and article 12 of the Investment Services Act,
the Minister responsible for the regulation of financial services, acting
on the advice of the Malta Financial Services Authority, has made the
following regulations:-
(1) The title of these regulations is the Multilateral Citation and
Trading Facilities and Organised Trading Facilities (Amendment) scope.
Regulations, 2025 and these regulations shall be read and construed as
one with the Multilateral Trading Facilities and Organised Trading S.L. 345.24.
Facilities Regulations, hereinafter referred to as the "principal S.L. 370.39.
regulations".
(2) The scope of these regulations is to transpose Article
1(3)(b) and Article 1(5) of Directive (EU) 2024/790 of the European
Parliament and of the Council of 28 February 2024 amending
Directive 2014/65/EU on markets in financial instruments.
In sub-regulation (1) of regulation 2 of the principal Amends
regulations the definition "systematic internaliser" shall be substituted regulation
the principal
by the following new definition
regulations.
""systematic internaliser" means an investment firm which,
on an organised, frequent and systematic basis, deals on own
account in equity instruments by executing client orders outside
a regulated market, an MTF or an OTF, without operating a
multilateral system, or which opts in to the status of systematic
internaliser;".
Immediately after sub-regulation (2) of regulation 6 of the Amends
principal regulations there shall be added the following new sub- regulation
the principal
regulation
regulations.
"(2a) Maltese investment firms and market operators
operating an MTF or an OTF shall have arrangements in place to
ensure that they meet data quality standards pursuant to Article
22b of MiFIR.".
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