For the purposes of this Regulation, ‘trading venue operator’ means any of the following:
((a))
a market operator operating a regulated market, an MTF or an OTF;
((b))
an investment firm operating an MTF or an OTF.
For the purposes of this Regulation, ‘trading venue operator’ means any of the following:
a market operator operating a regulated market, an MTF or an OTF;
an investment firm operating an MTF or an OTF.