GEN 5.2.14

In assessing an application for a Financial Services Permission authorising the applicant to Operate a Multilateral Trading Facility or an Organised Trading Facility, the Regulator will have regard to, but is not limited to, considering the following matters:

(a) whether the establishment of a Multilateral Trading Facility or Organised Trading Facility is, or is likely to be, in the interests of the Financial Services and Markets industry;
(b) whether the Multilateral Trading Facility or Organised Trading Facility will or is likely to lead to more efficient price discovery of, or deepen liquidity in, an Investment; and
(c) whether there is any risk of market fragmentation, loss of liquidity or inefficiency in price discovery as a result of the proposed Multilateral Trading Facility or Organised Trading Facility operation.