ABBL and ALFI Guidelines and Recommendations for Depositaries

5454 Definition of regulated market pursuant to the law of 13 July 2007 on markets in financialinstruments, as amended: “regulated market” means a multilateral system operated and/ormanaged by a market operator, which brings together or facilitates the bringing together ofmultiple third-party buying and selling interests in financial instruments – in the system and inaccordance with its non-discretionary rules - in a way that results in a contract, in respect of thefinancial instruments admitted to trading under its rules or systems, and which is authorised andfunctions regularly and in accordance with the provisions of Title III of the 2004/39/EC Directive. InLuxembourg, such systems are recorded in the official table of regulated markets held by theCommission pursuant to Article 16. In the other Member States, such systems are recorded on a listcompiled by the European Commission pursuant to Article 47 of the 2004/39/EC Directive. In thirdcountries, such systems are authorised and/or supervised by a public authority and functionregularly and in accordance with provisions equivalent to those stated in Chapter 1 of this Title.30