Section 5: Regime for members of a regulated market

The rules of the market shall lay down, in a transparent and non-discriminatory manner, the conditions for admission of members based on objective criteria. Without prejudice to the provisions of Article L. 531-10, regulated markets may admit as members, in addition to investment firms and credit institutions, persons who : a) Are of sufficiently good repute ; b) Have a sufficient level of aptitude, competence and experience for trading; and…

Admission to and continued membership of a regulated market by the market undertaking organising trading on that market are subject to compliance with the rules of that market. The relationship between a market undertaking and the members of the regulated market it manages is contractual in nature.

Market undertakings may not limit the number of members admitted to the regulated market they manage. The AMF shall ensure that market undertakings adapt their technical capacity, as necessary, to the requests for access to which they are subject.

Investment firms and credit institutions authorised in a Member State of the European Union or in a State party to the Agreement on the European Economic Area other than France to execute orders on behalf of third parties or to deal on own account may become members of a regulated market referred to in Article L. 421-1: a) Directly, by establishing a branch in mainland France, the French overseas departments,…