Participation in matching arrangements
Article 1
Delegated Regulation (EU) 2017/565 is amended as follows: (1) the following Article 16a is inserted: ‘Article 16a Participation in matching arrangements An investment firm shall not be considered to be dealing on own account for the purposes of Article 4(1)(20) of Directive 2014/65/EU where that investment firm participates in matching arrangements entered into with entities outside its own group with the objective or consequence of carrying out de facto riskless back-to-back transactions in a financial instrument outside a trading venue.’; (2) in Article 91, the second paragraph is replaced by the following: ‘It shall apply from 3 January 2018.’.