Complex securities and futures firms: authorisation

Find out which permissions to apply for in order to become authorised

Application fee

  • £1,500 for firms applying to deal as principal with a matched principal broker limitation
  • £5,000 for moderately complex securities and futures firms 
  • £25,000 for multilateral trading facilities (MTFs) and organised trading facilities (OTF)

Typical permissions required 

  • dealing as principal
  • investments: advising, arranging deals, dealing as agent, making arrangements with a view to transactions
  • agreeing to carry on regulated activities
  • arranging safeguarding and administration of assets
  • safeguarding and administration of assets

Examples of moderately complex securities and futures firms

  • Firms that deal as a principal or agent and clear and settle their own transactions, subject to market risk
  • Brokers that are the main party to a transaction, acting as buyer/seller for their own account and risk

Moderately complex securities and futures firms may hold and control client money.

MTFs or OTFs applying for permission should contact us first to arrange a pre-application meeting; these applications can take longer to process.

Detailed information

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