There has been published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2017/2294 of 28 August 2017 amending Delegated Regulation (EU) 2017/565 as regards the specification of the definition of systematic internalisers for the purposes of MiFID II.
The Delegated Regulation inserts Article 16a into Delegated Regulation (EU) 2017/565. Article 16a states:
“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.’;”
The Delegated Regulation enters into force on 14 December 2017. It applies from 3 January 2018.