multilateral trading facility

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

Definitions over time (2)

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

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

   ‘multilateral trading facility’ or ‘MTF’ means a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments – in the system and in accordance with non-discretionary rules – 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: MTF

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

   ‘multilateral trading facility’ or ‘MTF’ means a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments – in the system and in accordance with non-discretionary rules – in a way that results in a contract in accordance with Title II of this Directive;

Used in (130 places in 32 provisions on 12/11/2026)

Directive 2014/65/EU (MIFID II) (130 in 32)

Recital 14³ · Recital 16 · Recital 17 · Recital 18 · Recital 50 · Recital 112⁴ · Recital 121 · Recital 132² · Recital 140³ · Recital 141 · Recital 155² · Recital 157 · Recital 158 · Article 1 · Article 2 · Article 4⁸ · Article 5 · Article 18²⁴ · Article 19⁹ · Article 20 · Article 25² · Article 31⁷ · Article 32⁶ · Article 33²⁴ · Article 34⁶ · Article 38³ · Article 52² · Article 58 · Article 70² · Article 86⁵ · Article 90² · Annex I³