S.L. 370.13 Art. 2Interpretation.

(1) In these regulations, unless the context otherwise requires -

"Act" means the Investment Services Act;

"competent authority" means the Malta Financial Services Authority appointed under article 2A of the Act; "competent authority" means the Malta Financial Services

Authority established by the Malta Financial Services Authority Act; "ESMA" means the European Securities and Markets Authority established by Regulation (EU) No. 1095/2010 of the European Parliament and of the Council of 24 November 2010; "European right" means the entitlement of a person operating a multilateral trading facility or an organised trading facility to provide appropriate arrangements in the territory of a Member State or EEA State other than that in which that person has been authorized to operate such facility, so as to facilitate access to and use of their systems by remote users; "Home Member State or EEA State" means the Member State or

EEA State in which the persons operating the multilateral trading facility or an organised trading facility are so authorised; "Host Member State or EEA State" means the Member State or EEA State in which, a person authorised to operate a multilateral trading facility in Malta, provides appropriate arrangements so as to facilitate access to and use of its system by remote members established in that same Member State or EEA State; S.L.370.13 ORGANIZED TRADING FACILITIES REGULATIONS ""MiFID" means Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU, as amended from time to time, and includes any implementing measures that have been or may be issued thereunder;

"multilateral system" means any system or facility in which multiple third-party buying and selling trading interests in financial instruments are able to interact in the system; "multilateral trading facility" or "MTF" means a multilateral system, operated by an investment services licence holder or a market operator, which brings together multiple third-party buying and selling interests in financial instruments – in the system and in accordance with non-discretionary rules – in a way that results in a contract in accordance with Title II of MiFID; "organised trading facility" or "OTF" means a multilateral system which is not a regulated market or an MTF and in which multiple third-party buying and selling interests in bonds, structured finance products, emission allowances or derivatives are able to interact in the system in a way that results in a contract in accordance with Title II of MiFID;

(2) Words and expressions which are also used in the Act shall have the same meaning as in the Act.

Part I – Exercise of European Passport Rights by Persons operating a Multilateral Trading Facility or an Organised Trading Facility established in a Member State or EEA State