(Article 13(6) of Directive 2004/39/EC)Record-keeping of client orders and decisions to deal
- Record client orders and decisions to deal immediately
Retained EU Law
2006
United Kingdom
Commission Regulation (EC) No 1287/2006 of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards record-keeping obligations for investment firms, transaction reporting, market transparency, admission of financial instruments to trading, and defined terms for the purposes of that Directive (Text with EEA relevance)
At a glance
What's here
11 compliance obligations
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
(Article 13(6) of Directive 2004/39/EC)Record-keeping of transactions
- Record transaction and order details immediately after execution or transmission
(Article 25(3) of Directive 2004/39/EC)List of financial instruments
- Regulated markets must submit financial instrument data to the competent authority
(Article 25(3) and (5) of Directive 2004/39/EC)Content of the transaction report
- Include required transaction report information for financial instruments
(Article 4(1)(7) of Directive 2004/39/EC)Criteria for determining whether an investment firm is a systematic internaliser
- Announce intention to stop being a systematic internaliser in advance
(Article 27(1) of Directive 2004/39/EC)Quotes reflecting prevailing market conditions
- Maintain quotes reflecting market conditions and keep records for 12 months
(Fifth subparagraph of Article 27(3) and Article 27(6) of Directive 2004/39/EC)Execution of orders by systematic internalisers
- Maintain a non-discriminatory risk management policy and document order volume limits
(Article 22(2) of Directive 2004/39/EC)Disclosure of client limit orders
- Disclose client limit orders that are not immediately executable
(Article 40(1) of Directive 2004/39/EC)Transferable securities
- Assess fair trading capability before admitting securities
(Article 40(1) of Directive 2004/39/EC)Units in collective investment undertakings
- Verify compliance and assess fair trading for collective investment units
(Article 40(1) and (2) of Directive 2004/39/EC)Derivatives
- Verify conditions before admitting derivatives to trading
Browse 30 other sections — procedural / definitional / commencement
Subject-matter and scope
Definitions
Transactions related to an individual share in a portfolio trade and volume weighted average price transactions
References to trading day
References to transaction
First admission to trading of a share on a regulated market
(Second subparagraph of Article 25(3) of Directive 2004/39/EC)Determination of the most relevant market in terms of liquidity
(Second subparagraph of Article 25(3) of Directive 2004/39/EC)Alternative determination of most relevant market in terms of liquidity
(Article 25(5) of Directive 2004/39/EC)Reporting channels
(Article 25(3) and (5) of Directive 2004/39/EC)Exchange of information on transactions
(Article 58(1) of Directive 2004/39/EC)Request for cooperation and exchange of information
(Article 56(2) of Directive 2004/39/EC)Determination of the substantial importance of a regulated market's operations in a host Member State
(Articles 29 and 44 of Directive 2004/39/EC)Pre-trade transparency obligations
(Articles 29(2) and 44(2) of Directive 2004/39/EC)Waivers based on market model and type of order or transaction
(Articles 29(2) and 44(2) of Directive 2004/39/EC)References to negotiated transaction
(Articles 29(2) and 44(2), and fifth subparagraph of Article 27(1) of Directive 2004/39/EC)Waivers in relation to transactions which are large in scale
(Article 27 of Directive 2004/39/EC)Determination of liquid shares
(Fourth subparagraph of Article 27(1) of Directive 2004/39/EC)Standard market size
(Fourth subparagraph Article 27(3) of Directive 2004/39/EC)Retail size
(Articles 28, 30 and 45 of Directive 2004/39/EC)Post-trade transparency obligation
(Articles 28, 30 and 45 of Directive 2004/39/EC)Deferred publication of large transactions
(Articles 27(3), 28(1), 29(1), 44(1) and 45(1) of Directive 2004/39/EC)Publication and availability of pre- and post-trade transparency data
(Articles 27, 28, 29, 30, 44 and 45 of Directive 2004/39/EC)Public availability of pre- and post-trade information
(Article 22(2), 27, 28, 29, 30, 44 and 45 of Directive 2004/39/EC)Arrangements for making information public
(Articles 27, 28, 29, 30, 44 and 45 of Directive 2004/39/EC)Calculations and estimates for shares admitted to trading on a regulated market
(Articles 27, 28, 29, 30, 44 and 45 of Directive 2004/39/EC)Publication and effect of results of required calculations and estimates
(Article 4(1)(2) of Directive 2004/39/EC)Characteristics of other derivative financial instruments
(Article 4(1)(2) of Directive 2004/39/EC)Derivatives within Section C(10) of Annex I to Directive 2004/39/EC
Re-examinations
Entry into force
Explore more
Browse legislation
Find other UK business legislation with related guidance.