1. 1. This Regulation shall apply to investment firms and market operators operating a multilateral trading facility (‘MTF’) or an organised trading facility (‘OTF’).
2. 2. This Regulation shall also apply to credit institutions, authorised under Directive 2013/36/EU of the European Parliament and of the Council (^{3}),(^{1}), which provide one or more investment services or perform investment activities, and wish to use tied agents under the following rights:
(a)((a)) the right of freedom to provide investment services and activities in accordance with Article 34(5) of Directive 2014/65/EU;
(b)((b)) the right of establishment in accordance with Article 35(7) of Directive 2014/65/EU.