STSM123040 | Financial markets: trading venues: regulated market

A regulated market is a multilateral system operated by a market operator where the securities traded (shares, bonds etc.) are admitted in accordance with a defined procedure.

A regulated market means (per section 80B(2) FA1986) :

1. a UK regulated market, within the meaning of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (MiFIR);

2. an EU regulated market, within the meaning of that Regulation; or

3. a Gibraltar regulated market within the meaning given by Article 26(11)(b)(i) of that Regulation.

Under section 285 of the Financial Services and Markets Act 2000 (FSMA) Recognised Investment Exchanges (RIE) (see STSM123030) do not need to be separately authorised to operate either a regulated market or a Multilateral Trading Facility (MTF) (see STSM123050).

The FCA maintains a list of UK regulated markets (FCA website).The UK regulated markets (list correct as of 10 May 2024 ) are:

• The London Metal Exchange

• ICE Futures Europe

• London Stock Exchange

• Aquis Stock Exchange Limited

• Cboe Europe Equities Regulated Market