Regulatory Market Notices

Market Notices
MTS MARKETS: MTS CASH, MMF REPO, & BONDVISION - NO-BREXIT DEAL FREQUENT QUESTIONS - 10 OCTOBER

Legal and Regulatory Notice – 19/2019

Dear Participant,


Please find here a list of frequent questions and related answers on how the participation to the MTS Markets managed by MTS SpA and EuroMTS Limited may be affected in the event of the United Kingdom leaving the European Union on the 31st October without a Withdrawal Agreement.

Should you require more information please contact MTS Client Services. 

Regards,

Client Services

Tel: + 44 (0)20 7797 4090

Fax: + 44 (0)20 7797 4511

Email: clientservices@mtsmarkets.com

10 Paternoster Square, London EC4M 7LS 

MTS MARKET: MTS CYPRUS SEGMENT LAUNCH AND CHANGES TO THE REGULATORY SPECIFICATIONS – EFFECTIVE FROM 18TH NOVEMBER 2019 - 17 OCTOBER 2019

                             Legal and Regulatory Notice – 18/2019

 

Dear Participant, 

 

Please be informed that the amendment to the Regulatory Specifications and to MTS Cash Domestic MTF has been published on the MTS website in accordance with articles 9.1 and 9.2 of the current MTS General Terms and Conditions.

 

MTS Cash Domestic MTF has been updated to confirm the launch of MTS Cyprus segment. Consequently, the Regulatory Specifications have been amended in order to include the provisions related to the new MTS Cyprus segment.

 

The new texts will come into force on November 18th, 2019 and are available online at www.mtsmarkets.com/Documents/Market-RulesParticipants can apply for the admission to the new market segment through the Member Portal.

 

Please note that the amendment referred to above and the General Terms and Conditions are available on the MTS website (please click on the relevant hyperlinks above to access the documents). These documents, together with the relevant Schedules, constitute your agreement with MTS. Please make sure you are always up-to-date with the latest version of the relevant Market Rules and General Terms and Conditions as published on the MTS website.

 

For any further clarification, please do not hesitate to contact ClientServices@mtsmarkets.com

 

Regards,

Client Services

Tel: + 44 (0)20 7797 4090

Fax: + 44 (0)20 7797 4511

Email: clientservices@mtsmarkets.com

10 Paternoster Square, London EC4M 7LS 

MTS MARKETS: CHANGES TO THE PROVISIONS OF ITALY MTS – REPO SEGMENT – EFFECTIVE FROM 30TH JULY 2019 - JULY 2019

Legal and Regulatory Notice – 17/2019

 

Dear Participant,
 

Please be informed that the amendment to the Provisions of MTS Italy Market Rules and to the Regulatory Specifications has been published on the MTS website in accordance with articles 9.1 and 9.2 of the current MTS General Terms and Conditions. 

 

The new Provisions to MTS Italy Market Rules and the new Regulatory Specifications will come into force on July 30th,  2019 and will be available online on the entry into force at www.mtsmarkets.com/Documents/Market-RulesParticipants can exercise their rights provided for in article 13.3 of the current General Terms & Conditions up until close of business of 26th July, 2019. 


Provisions to the MTS Italy Rules and the Regulatory Specifications have been updated in order to envisage the possibility of concluding trades through the RFQ functionality, exclusively with respect to the Repo Segment of the MTS Market.

 

Please note that the amendment referred to above and the General Terms and Conditions are available on the MTS website (please click on the relevant hyperlinks above to access the documents). These documents, together with the relevant Schedules, constitute your agreement with MTS. Please make sure you are always up-to-date with the latest version of the relevant Market Rules and General Terms and Conditions as published on the MTS website.


For any further clarification, please do not hesitate to contact ClientServices@mtsmarkets.com


Regards,

Client Services

Tel: + 44 (0)20 7797 4090

Fax: + 44 (0)20 7797 4511

Email: clientservices@mtsmarkets.com

www.mtsmarkets.com

10 Paternoster Square, London, EC4M 7LS

MTS MARKETS: CHANGES TO MTS CASH DOMESTIC RULES - EFFECTIVE FROM 5TH JUNE 2019 - 22 MAY 2019

Legal and Regulatory Notice 16/2019

Dear Participant,


Please be informed that the amendment to the Rules of MTS Cash Domestic Market MTF has been published on the MTS website in accordance with articles 9.1 and 9.2 of the current MTS General Terms and Conditions.


The new Rules will come into force on June 5th, 2019 and will be available online on the entry into force at www.mtsmarkets.com/Documents/Market-Rules. Participants can exercise their rights provided for in article 13.3 of the current General Terms & Conditions up until close of business of 31st May, 2019.


The amendment is aimed at updating the Liquidity Provider definition to allow investment firms that have a Primary Dealer in their group to undertake this role.


Please note that the amendment referred to above and the General Terms and Conditions are available on the MTS website (please click on the relevant hyperlinks above to access the documents). These documents, together with the relevant Schedules, constitute your agreement with MTS. Please make sure you are always up-to-date with the latest version of the relevant Market Rules and General Terms and Conditions as published on the MTS website.


For any further clarification, please do not hesitate to contact ClientServices@mtsmarkets.com


Regards,

Client Services

Tel: + 44 (0)20 7797 4090

Fax: + 44 (0)20 7797 4511

Email: clientservices@mtsmarkets.com

www.mtsmarkets.com

10 Paternoster Square, London, EC4M 7LS

MTS MARKETS: CHANGES TO BONDVISION EUROPE RULES EFFECTIVE FROM 1ST APRIL 2019 - 25 MARCH 2019

Legal and Regulatory Notice – 15/2019

Dear Participant,

 

Please be informed that in accordance with articles 9.1 and 9.2 of the current MTS General Terms and Conditions the new version of the Rules of BondVision Europe MTF have been published on the MTS website. 

 

The new Rules, available online at www.mtsmarkets.com/Documents/Market-Rules will come into force on April 1st,  2019Participants can exercise their rights provided for in article 13.3 of the current General Terms & Conditions up until close of business of March 29th2019.


In summary, the changes introduced are the following:

 

- Financial Instruments admission criteria are modified in order to make available for trading on BondVision Market  also financial instruments traded in the London Stock Exchange Market; (Art. 2.1)

 

- Participants admission criteria: the admission requirement to be qualified as Dealers are adapted in order to give continuity to the possibility for Gilt edged Market Makers to be qualified as Dealers, once UK were to exit the European Union. (Art. 3.1)

 

Please note that the rulebook referred to above and the General Terms and Conditions are available on the MTS website and can be reached by clicking on the above hyperlinks. These, together with the relevant Schedules constitute your agreement with MTS.

 

Please make sure that you are always aware of the latest version of the relevant Market Rules and General Terms and Conditions as published on MTS website.

 

For any further clarification, please do not hesitate to contact ClientServices@mtsmarkets.com

 

Regards,


Client Services


Tel:+ 44 (0)20 7797 4511
Email:clientservices@mtsmarkets.com        www.mtsmarkets.com
10 Paternoster Square, London, EC4M 7LS

BREXIT NOTICE: UK FIRMS MEMBERSHIP 21 MARCH 2019

Legal and Regulatory Notice – 14/2019


Dear Participant,



Pursuant to the Law Decree on urgent measures to ensure financial, economic and investment stability approved on 20 March 2019 by the Council of Ministers, MTS, having filed a request with Consob pursuant to Article 70 of the TUF, can continue to allow existing participants incorporated in the United Kingdom access to its markets.


This is now guaranteed for a transitional period of 18 months starting from the date on which the United Kingdom leaves the European Union.


Nothing further is required of UK existing participants for their participation in the MTS S.p.A. trading venues.


For any further clarification, please do not hesitate to contact ClientServices@mtsmarkets.com.


Regards,



Client Services
Tel: + 44 (0)20 7797 4090 Fax: + 44 (0)20 7797 4511
Email: clientservices@mtsmarkets.com    www.mtsmarkets.com
10 Paternoster Square, London, EC4M 7LS

MTS MARKETS: CHANGES TO MTS FRANCE MARKET RULES EFFECTIVE FROM 20TH MARCH - 20 MARCH 2019

Legal and Regulatory Notice 13/2019


Dear Participant,


Please be informed that in accordance with article 9 of the current MTS France General Terms and Conditions the new version of the Rules of MTS France has been published on the MTS website.




Pending the approval from the French regulator on Tuesday 19th of March, the new Rules, available online at www.mtsmarkets.com/Documents/Market-Rules will come into force on Wednesday 20th of March 2019. Participants can exercise their rights provided for in article 13.3 of the current General Terms & Conditions up until close of business of March 19th 2019.



In summary, the changes introduced are:




MTS France Market Rules - Changes Made:

  • In order to take into consideration that several entities are re-locating their activity in EU, the Select SVT Market Committee has amended the Participant admission criteria that eligible platforms are bound to comply.
  • Article 3.1 “Participants admission criteria” of the MTS France Market Rules has been amended to reflect this decision.


Please note that the draft rulebooks referred to above together with the General Terms and Conditions are available on the MTS website and can be reached by clicking on the above hyperlinks.


These, together with the relevant Schedules constitute your agreement with MTS France.

Please make sure that you are always aware of the latest version of the relevant Market Rules and General Terms and Conditions as published on MTS website.




For any further clarification please do not hesitate to contact mtsfrance@mtsmarkets.com.


Regards,


Client Services


Tel: + 44 (0)20 7797 4090

Fax: + 44 (0)20 7797 4511

Email: clientservices@mtsmarkets.com

www.mtsmarkets.com

10 Paternoster Square, London, EC4M 7LS

MTS MARKETS: EUROMTS PUBLISHES BV UK RULES IN CASE OF A HARD BREXIT - 8 MARCH 2019

Legal and Regulatory Notice 12/2019

 

Dear Participant,

 

Please be informed that BondVision UK Market Rules (“Market Rules”) have been published that will take effect if the United Kingdom (“UK”) leaves the European Union (“EU”) without a transition period in place.
 
The Market Rules have been amended pursuant to rule 6.5 of the Market Rules and paragraph 9.3 of the EuroMTS Markets Terms and Conditions (Effective as of August 27th, 2018) (version 06/08/2018) (“Terms and Conditions”).
 
The introduction of the transition period is subject to the withdrawal agreement that is being negotiated between the EU and UK. In the event that the withdrawal agreement is not ratified, the amendments to the Market Rules will become effective from 01 April 2019. If the UK and the EU agree on the terms of the withdrawal agreement, and there is a transition period, the amendments proposed in this Notice will not come into effect on 01 April 2019.
 
In order to prepare for scenario where the UK leaves the EU on 29 March 2019 without a transition period we are proposing to make the necessary amendments to the Market Rules that would allow the EuroMTS to continue to operate its markets effectively and meet its regulatory obligations.
 
A track change version of the Market Rules will be available on the MTS Markets website at www.mtsmarkets.com/Documents/Market-Rules.
 
Please note that the Market Rules together with the Terms and Conditions and relevant Schedules constitute your agreement with EuroMTS. Please make sure that you are always aware of the latest version of the relevant Market Rules and Terms and Conditions as published on the MTS website.
 
For any further clarification please do not hesitate to contact ClientServices@mtsmarkets.com or MTSCompliance@mtsmarkets.com.

 

Regards,
 

Client Services
Tel:    + 44 (0)20 7797 4090    Fax:    + 44 (0)20 7797 4511            
Email:    clientservices@mtsmarkets.com         www.mtsmarkets.com
10 Paternoster Square, London, EC4M 7LS

MTS MARKETS: EUROMTS PUBLISHES MTS UK RULES IN CASE OF A HARD BREXIT - 8 MARCH 2019

Legal and Regulatory Notice 11/2019
 

Dear Participant,

 

Please be informed that the MTS UK Market Rules (“Market Rules”) have been published that will take effect if the United Kingdom (“UK”) leaves the European Union (“EU”) without a transition period in place.
 
The Market Rules have been amended pursuant to rule 6.5 of the Market Rules and paragraph 9.3 of the EuroMTS Markets Terms and Conditions (Effective as of August 27th, 2018) (version 06/08/2018) (“Terms and Conditions”).
 
The introduction of the transition period is subject to the withdrawal agreement that is being negotiated between the EU and UK. In the event that the withdrawal agreement is not ratified, the amendments to the Market Rules will become effective from 01 April 2019. If the UK and the EU agree on the terms of the withdrawal agreement, and there is a transition period, the amendments proposed in this Notice will not come into effect on 01 April 2019.
 
In order to prepare for scenario where the UK leaves the EU on 29 March 2019 without a transition period we are proposing to make the necessary amendments to the Market Rules that would allow the EuroMTS to continue to operate its markets effectively and meet its regulatory obligations.
 
A track change version of the Market Rules will be available on the MTS Markets website at www.mtsmarkets.com/Documents/Market-Rules.
 
Please note that the Market Rules together with the Terms and Conditions and relevant Schedules constitute your agreement with EuroMTS. Please make sure that you are always aware of the latest version of the relevant Market Rules and Terms and Conditions
as published on the MTS website.

For any further clarification please do not hesitate to contact ClientServices@mtsmarkets.com or MTSCompliance@mtsmarkets.com.

 

Regards,
 

Client Services
Tel:    + 44 (0)20 7797 4090    Fax:    + 44 (0)20 7797 4511            
Email:    clientservices@mtsmarkets.com         www.mtsmarkets.com
10 Paternoster Square, London, EC4M 7LS

MTS MARKETS: CHANGES TO MTS CASH DOMESTIC RULES EFFECTIVE FROM 15TH MARCH 2019 - 1 MARCH 2019

Legal and Regulatory Notice 10/2019

Dear Participant,

 

Please be informed that in accordance with articles 9.1 and 9.2 of the current MTS General Terms and Conditions the new version of the Rules of  MTS Cash Domestic MTF have been published on the MTS website.

The new Rules, available online at www.mtsmarkets.com/Documents/Market-Rules will come into force on Friday 15
th of March 2019. Participants can exercise their rights provided for in article 13.3 of the current General Terms & Conditions up until close of business of March 14th 2019. 

In summary the changes introduced are:
 
MTS Cash Domestic Rules  (article 3.1 lett.f)

  • Changes Made – In order to take into consideration that several entities are re-locating their activity in EU, MTS Cash Domestic Rules have extended the criteria of the primary dealership to a Group level. In consistency with this extended criteria, amending article 3.1 lett. f)  specify that, in order to extend the criteria of primary dealership at Group level, MTS shall ascertain that the group company having the status of Primary Dealer has given its consent.

Please note that the rulebooks referred to above together with the General Terms and Conditions are available on the MTS website and can be reached by clicking on the above hyperlinks. These, together with the relevant Schedules constitute your agreement with MTS. Please make sure that you are always aware of the latest version of the relevant Market Rules and General Terms and Conditions as published on MTS website.


For any further clarification please do not hesitate to contact ClientServices@mtsmarkets.com  or MTSCompliance@mtsmarkets.com or MTSRegulations@mtsmarkets.com.
 

Regards,
 

Client Services
Tel:    + 44 (0)20 7797 4090    Fax:    + 44 (0)20 7797 4511            
Email:    clientservices@mtsmarkets.com         www.mtsmarkets.com
10 Paternoster Square, London, EC4M 7LS

MTS MARKETS - MTS CASH DOMESTIC MARKET MTF - MTS ISRAEL SEGMENT - 28 FEBRUARY 2019

Legal and Regulatory Notice 09/2019
 

Dear MTS Israel Participant,

 

Following the communications sent on August 23rd 2018 and the novation letters sent on August 24th 2018 (“Novation Notices”), we are writing to inform you that we have now received confirmation that provision of the Services (as defined in the Novation Notices) by MTS S.p.A. to you and your receipt of the Services from MTS S.p.A will be permitted by CONSOB (the Italian financial services regulator) and ISA (Israel Security Authority), (the “Condition”).

We would therefore like to clarify that with effect from Friday 1st March 2019, your contract for access to MTS Cash Domestic MTF – MTS Israel Segment (“Membership Documentation”) will be a contract between you and MTS S.p.A.

 

Today will therefore be the last day that MTS Israel is operated under EuroMTS Ltd. Consequently, the first day of operation of MTS Israel under MTS S.p.A. will be Monday 4th March 2019.
 

Please note that the Membership Documentation between you and MTS S.p.A. will consist of the terms and conditions found here www.mtsmarkets.com/resources/membership-general-terms-and-conditions and the market rules found here www.mtsmarkets.com/resources/market-rules.

For any further clarification please do not hesitate to contact ClientServices@mtsmarkets.com  or MTSCompliance@mtsmarkets.com or MTSRegulations@mtsmarkets.com.

 

Regards,
 

Client Services
Tel:    + 44 (0)20 7797 4090    Fax:    + 44 (0)20 7797 4511            
Email:    clientservices@mtsmarkets.com         www.mtsmarkets.com
10 Paternoster Square, London, EC4M 7LS

MTS MARKETS - MTS CASH DOMESTIC MARKET MTF AND EBM MTF - 27 FEBRUARY 2019

Legal and Regulatory Notice 08/2019
 

Dear Participant,
 

Following the communications sent on 23 August 2018, the novation letters sent on 24 August 2018 (“Novation Notices”), the communications sent on 10 December, 2018 and of 16 January, 2019 we are writing to remind you that the EBM MTF, and all Segments of the Cash Domestic Market MTF (with the exception of MTS UK and MTS Israel* which will continue being operated by EuroMTS Limited), will be closing on 28 February 2019 and two new markets with the same names will open as MTFs operated by MTS SpA on 1 March 2019.

 

As explained in the Novation Notices, if you are currently a participant on any of the above trading venues then from 00.01 (UK time) on 01 March 2019 your contract to access such trading venues will no longer be a contract between you and EuroMTS Limited but will instead be a contract between you and MTS S.p.A. The relevant terms and conditions and Market Rules can be found here www.mtsmarkets.com/mtsresources.

 

Please note that the Market Rules together with the Terms and Conditions and relevant Schedules constitute your agreement with MTS S.p.A.. Please make sure that you are always aware of the latest version of the relevant Market Rules and Terms and Conditions as published on the MTS website.

 

*MTS Israel participants will receive a separate communication in the coming days.

 

For any further clarification please do not hesitate to contact ClientServices@mtsmarkets.com or MTSCompliance@mtsmarkets.com or MTSRegulations@mtsmarkets.com.
 

Regards,
 

Client Services
Tel:    + 44 (0)20 7797 4090    Fax:    + 44 (0)20 7797 4511    
Email:    clientservices@mtsmarkets.com&; www.mtsmarkets.com
10 Paternoster Square, London, EC4M 7LS

NOTICE FOR BONDVISION EUROPE MTF EFFECTIVE 15 MARCH - 26 FEBRUARY 2019

Legal and Regulatory Notice – 07/2019

Dear Participant,

 

With reference to our notice of the 20th  of February  2019 (notice number 01/2019) on the amendments to rule 3.1.4 a) of BondVision Europe MTF, please be informed that the new Rules will come into force on Friday 15 th  of March 2019  instead of the 6th of March 2019.

 

Participants can exercise their rights provided for in article 13.3 of the current General Terms & Conditions up until close of business of March 14th  2019.

 

The new Rules are  available online at www.mtsmarkets.com/Documents/Market-Rules

 

Please note that the rulebooks referred to above together with the General Terms and Conditions are available on the MTS website and can be reached by clicking on the above hyperlinks. These, together with the relevant Schedules constitute your agreement with MTS. Please make sure that you are always aware of the latest version of the relevant Market Rules and General Terms and Conditions as published on MTS website.


For any further clarification, please do not hesitate to contact ClientServices@mtsmarkets.com


Regards,

Client Services


Tel:    + 44 (0)20 7797 4090    Fax:    + 44 (0)20 7797 4511            
Email:    clientservices@mtsmarkets.com         www.mtsmarkets.com
10 Paternoster Square, London, EC4M 7LS

EUROMTS MEMBERSHIP DOCUMENTATION - NOVATION REMINDER - EBM AND MTS CASH DOMESTIC MARKET - 22 FEBRUARY 2019

Legal and Regulatory Notice 06/2019

 

Dear Participant,

 

Following the communications sent on 23 August 2018, the novation letters sent on 24 August 2018 (“Novation Notices”), and the recent communication found here http://www2.mtsmarkets.com/e/75932/ules-regulatory-market-notices/4kzqbz/706292597?h=-g-e0BZ6wFowh0Adr5z0Mw1F5whxlrgAxq0lHOU9xmU confirming approval of the new market rules for EBM MTF and the MTS Cash Domestic Market MTF (“Market Rules”) by CONSOB (the Italian Financial Services Regulator) sent on 10 December 2018 we are writing to remind you that