6.01 This chapter examines the recent growth in the volume and variety of market infrastructure provision, and sets out the legal and regulatory framework governing the operation of multilateral trading facilities (MTFs) in Europe and the UK. 6.02 Information technology (IT) has fundamentally changed the way in which trading in financial instruments occurs in the UK. Since the introduction of electronic trading by the London Stock Exchange (LSE) in 1986, most exchanges, clearers, and other providers of market infrastructure services have moved in whole or in part...
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