Market making activities – but notification must be made to the FSA that the market maker intends to use this exemption not less than 30 calendar days before it first intends to use it. Those who would like to use this exemption from 1 November will therefore need to submit their notification by 1 October. The FSA has stated that it is its intention to publish the UK procedure for making such notifications, including the forms that the FSA will require to be completed, shortly after mid-September. This will leave little time for a market maker to finalise its notification and submit it to the FSA. ESMA has published guidance in its consultation paper on the market making exemption (ESMA 2012/580).
From the same website :Exemptions Market makers and authorised primary dealers may not have to comply with these obligations when undertaking market making activities in those instruments for which they are employing the exemption.
Thanks for that Bonus. Only problem, I see there is that unless we know they have crossed a threshold un reported we can't complain to FCA & as this debate proves we don't have any idea..... Still open to manipulation in my opinion :-)
Timing You must make notifications and public disclosures by 3:30pm local time in the jurisdiction of the relevant trading venue of the instrument following the trading day on which the threshold was reached. All calculations should be made as at midnight of the relevant day3.
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