Recognised investment exchanges
Recognised investment exchanges

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • Recognised investment exchanges
  • Recognised investment exchanges
  • FCA Handbook requirements
  • UK recognised bodies—recognition requirements
  • Applying to the FCA to become a UK recognised body
  • General process
  • Investment exchanges requirements
  • Recognition order
  • UK recognised bodies—notification rules and examples
  • Financial and other information
  • More...

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

Recognised investment exchanges

A recognised investment exchange (RIE) is a UK recognised body under Part XVIII of the Financial Services and Markets Act 2000 (FSMA 2000) which has been granted a recognition order by the Financial Conduct Authority (FCA). An RIE is an exempt person for the purposes of the general prohibition in FSMA 2000, s 19, meaning it does not need permission from the FCA or the PRA (Prudential Regulation Authority) under FSMA 2000, Pt 4A to carry on regulated activities as part of its business as an investment exchange, or for the purposes of, or in connection with, providing clearing services in the UK.

Examples of RIEs can be found on the Financial Services Register and include:

  1. London Stock Exchange

  2. London Metal Exchange Limited

  3. LIFFE Administration and Management, and

  4. CME Europe

FCA Handbook requirements

The rules governing RIEs are contained within the Recognised Investment Exchanges (REC) specialist sourcebook in the FCA Handbook. The REC

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