#2016-827Ordinance on Financial Instrument Markets
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This ordinance regulates structured deposits and expands on services related to investment offerings including data communication, definitions for trading platforms, and organizational requirements. It affects financial institutions, investment companies, and market operators by establishing new rules for market participation and data reporting.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Introduction of structured deposits rules
- Expansion of investment service categories including data communication
- New organizational requirements for trading platforms
Obligations
What this law requires
Define and classify structured deposits according to Article L. 312-22, which must be fully repayable at maturity with interest or premiums determined by formulas involving indices, financial instruments, environmental units, commodities, or exchange rates
Expand investment service offerings to include environmental units mentioned in Article L. 229-7 of the environmental code alongside traditional financial instruments
Establish and operate data communication services including: approved publication devices, consolidated publication systems, and approved reporting mechanisms as defined in Article L. 323-1
Trading platform managers must prohibit proprietary trading or matched principal transactions on platforms they operate, as stated in Article L. 420-2
Implement resilient trading systems with sufficient capacity to handle high volumes of orders and messages, with stress testing under extreme market volatility conditions as required by Article L. 420-3.I