RE: Interesting27 Oct 2025 11:01
This makes SIs as clear as mud!! All we know its all to muddy the waters as can be seen today.
"Systematic Internalisers (SIs) are not fully transparent in their trading activities. While SIs must meet pre-trade transparency requirements, they are not required to report post-trade transparency for trades executed outside of a trading venue. This means that SIs can limit the number of transactions a client may enter into and can limit the reporting obligations for certain trades. Additionally, the recent changes in the transparency regime have removed pre-trade transparency obligations for SIs, which further reduces their transparency requirements"