organised trading facility

Defined in Article 4, Directive 2014/65/EU (MIFID II)

Definitions over time (2)

1. 31/12/2019 – today applies on 11/11/2026 Article 4, Directive 2014/65/EU (MIFID II) Scope: Whole act Also: OTF

   For the purposes of this Directive, the following definitions apply:

   ‘organised trading facility’ or ‘OTF’ means a multilateral system which is not a regulated market or an MTF and in which multiple third-party buying and selling interests in bonds, structured finance products, emission allowances or derivatives are able to interact in the system in a way that results in a contract in accordance with Title II of this Directive;

2. 17/09/2014 – 01/07/2016 Article 4, Directive 2014/65/EU (MIFID II) Scope: Whole act Also: OTF

   For the purposes of this Directive, the following definitions apply:

   ‘organised trading facility’ or ‘OTF’ means a multilateral system which is not a regulated market or an MTF and in which multiple third-party buying and selling interests in bonds, structured finance products, emission allowances or derivatives are able to interact in the system in a way that results in a contract in accordance with Title II of this Directive;

Used in (113 places in 26 provisions on 11/11/2026)

Directive 2014/65/EU (MIFID II) (113 in 26)

Recital 9² · Recital 10 · Recital 14² · Recital 15 · Recital 17 · Recital 112⁴ · Recital 121 · Recital 140 · Recital 141 · Recital 155² · Recital 157 · Recital 158 · Recital 159 · Article 4⁶ · Article 5 · Article 18²⁴ · Article 20²⁸ · Article 31⁷ · Article 32⁶ · Article 34³ · Article 52² · Article 58 · Article 70² · Article 86⁵ · Article 90⁵ · Annex I⁴