PS14/6: Competition in the Markets for Services Provided by a Recognised Investment Exchange: Feedback on CP13/16 and Final Handbook Text

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we report on the main issues arising from CP13/16 - Competition in the market for services provided by a Recognised Investment Exchange: proposed amendments to REC and publish the final rules and guidance.

Why are we publishing this policy statement?

This Policy Statement sets out the changes to the Recognised Investment Exchanges Sourcebook in our Handbook (REC) that we are making to clarify how we will consider using our powers to advance our competition objective when supervising Recognised Investment Exchanges (RIEs) and Recognised Overseas Investment Exchanges (ROIEs).  These changes are an initial step while we implement our approach to our new concurrent competition powers.

Policy statement PS14/6

Who should read this paper?

This guidance will affect:

  • Recognised Investment Exchanges (RIEs) 
  • Recognised Overseas Investment Exchanges (ROIEs)
  • users of the facilities of trading infrastructures
  • those supplying services in the markets in which investment exchanges operate
  • direct and indirect consumers of the services provided by RIEs and ROIEs, including issuers, exchange member firms and their clients, and other trading infrastructures

Next steps

RIEs and ROIEs will need to review their internal processes for submitting notifications and reports to us in light of the changes to REC 3.26 (for UK RIEs) and REC 6.7 (for ROIEs).

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