S.L. 345.23 Art. 6Pursuit of a market making strategy. Cap. 345.

For the purposes of these regulations and of article 4E of the Financial Markets Act, a Maltese investment firm that engages in algorithmic trading shall be considered to be pursuing a market making strategy when, as a member or participant of one or more trading venues, its strategy, when dealing on own account, involves posting firm, simultaneous two-way quotes of comparable size and at competitive prices relating to one or more financial instruments on a single trading venue or across different trading venues, with the result of providing liquidity on a regular and frequent basis to the overall market.