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Recital 14

Recital 14

(14)Articles 18 and 19 of Regulation (EU) No 600/2014 lay down pre-trade transparency requirements for systematic internalisers in respect of non-equity instruments when providing firm or indicative quotes to their clients. Those quotes are tailored to individual clients and are of marginal informational value to other clients. Therefore, those requirements should be removed. Nevertheless, systematic internalisers might fulfil pre-trade transparency requirements on a voluntary basis, for example to address needs of their retail clients.

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