Rules and Membership Documentation

  • Rules and Membership Documentation

4.1    Updated Market Rules

  • MTS is in the process of updating the Market Rules of all its markets (Regulated Markets and MTFs) to reflect the new rules and obligations introduced by MiFID II. MTS expects to make available drafts of these new documents to members by the middle of 2017.

4.2    Market Making Agreements

  • Under MiFID II, investment firms engaged in a Market Making strategy on the MTS Cash Markets will be obliged to enter into an agreement with the trading venue and will be bound by applicable rules as stated in the venue’s rule book. The market making agreement will form part of the Market Rules and Participants categorised and qualified as Market Makers in the MTS Cash Markets will be obliged to comply with the relevant obligations detailed in the new specific section of the Market Rules.

4.3    Updated membership on-boarding documents

  • All onboarding documentation (including application to participate and the terms and conditions) will be updated to include and reflect new and additional requirements dictated by the new regulation and therefore participants will be asked to sign the new contractual documentation.