Regulatory Market Notices
For the attention of all participants on the MTS BondsPro ATS:
This notice serves to reiterate our commitment to operating a fair and orderly market for all participants on the MTS BondsPro ATS.
Participant Obligations and Market Activity
By using the MTS BondsPro ATS, participants undertake certain obligations as stated in the Subscriber Agreement, Trading Rules, and other covered communications. Some of these obligations are to:
- Use the ATS in a responsible manner;
- Use the ATS for its intended function;
- Conduct all activity on the ATS in accordance with the Trading Rules
Since the founding of MTS in 1988, it has been our mission to provide clients with efficient, reliable, fair, and orderly access to the markets in which we are active. And as an ATS operator, in order to ensure an orderly market, MTS Markets International, Inc. (MMI) undertakes continuous surveillance of activity on the ATS. Such surveillance is comprehensive and incorporates not only trade executions but also all ancillary actions including posting prices, aggressing on prices, and the reliability of prices posted (i.e. rejecting or failing to confirm an aggressor’s attempt to trade with a posted price).
MMI considers activity on the system that is contrary to the intended function of the ATS to be detrimental to the operation of an efficient and orderly market.
MMI regularly reviews participant activity to identify negative behaviour that may contribute to a disorderly market, and MMI will exercise its right, at its sole discretion, to restrict trading by any participant that repeatedly exhibits behaviour on the ATS that is contrary to the best interests of an efficient market.
Thank you for your attention to this notice.
Any questions regarding this notice should be addressed to MTS Markets International, Inc. via email@example.com.
This notice is part of an ongoing dialogue with participants on regulatory matters, with the ultimate aim of raising awareness on the evolution of the regulatory landscape and its impact on MTS markets. MTS will continue to issue similar regulatory updates from time to time, when we deem appropriate to do so.
Participant Obligations and Market activity
MTS would like to remind all participants of their ongoing obligations as members of markets operated by MTS. These undertakings are principally described within the rulebooks of the relevant market and include a number of provisions with respect to data confidentiality.
Participants should treat all information supplied by and derived from MTS markets as confidential and should not be disclosed to other parties, except as may be required to fulfil legal or regulatory obligations. Participants should also consider the ramifications of unlawful disclosure of inside information as laid out in Regulation (EU) No 596/2014 on market abuse ("MAR").
With the anniversary of the implementation of MAR approaching, MTS would like to reiterate our commitment to operating orderly and fair markets for all participants. Participants that are privy to non-public information in the course of their activity on MTS markets, including B2C interactions, are reminded of their obligations to handle such information appropriately and refrain from behaviours that may unfairly disadvantage their counterparty(s). Market activity which is incongruous to this may result in potential sanctions as well as potential violations of MAR.
Any comments or queries on this Market notice should be addressed to MTS Monitoring, Via Tomacelli 146, 00186 Rome - Italy. Email: firstname.lastname@example.org
MTSMarkets.com has been updated with a dedicated section covering the impacts of MiFID II and how MTS will remain compliant in advance of the new regulation.
Please check MiFID II and Regulatory Updates where we will periodically share more information.
The high level areas covered are:
- Transparency requirements and waivers
- Reporting and data
- Trading venue and microstructure requirements
- Rules and membership documentation
Should you have any questions related to regulation and MiFID II in particular please contact MTS Client Services or your regular sales contact for more information.