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Exception to the licence requirement For Trading and settlement platforms

If you already hold a licence for the operation of a regulated market or an MTF issued in another EEA Member State, you do not have to apply for a new licence. There are, however, a number of steps you must take before you can offer your services within the jurisdiction of the AFM.

Regulated market

As an operator of a regulated market, you must inform the Minister of Finance that you intend to offer your services in the Netherlands. The details of this process are given in Section 19 of the Wft Implementing Regulations. In addition, you must make suitable arrangements to make your market more accessible and tradable for members or participants located in the Netherlands.

The Minister may, on request, grant full or partial exemption from the licensing requirement if you can demonstrate that you can meet the statutory requirements. This option is in principle available to operators of a market outside the EEA. Application for exemption has no prescribed form. The AFM is responsible for assessing the application, and advises the Minister regarding the decision to be taken.

Multilateral trading facility (MTF)

You may operate an MTF in the Netherlands by means of a European passport for investment firms. Your supervisor will inform the AFM of your intention to operate in the Netherlands.

For further information, contact the supervisor in the country in which you already hold a licence, or the Securities Markets and Financial Infrastructure Department [afdeling Toezicht Effectenmarkten en Financiële Infrastructuur, or TEFI] on +31(0)20 797 2792.

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