COBS 8.5.1

The following rules shall not apply to MTF Operators in respect of transactions concluded under the rules governing an MTF between its members or participants or between the MTF and its members or participants in relation to the use of the MTF, except that members of or participants in the MTF shall comply with such obligations with respect to their Clients when, acting on behalf of their Clients, they execute their orders through the systems of an MTF as stated in the following provisions:

(a) Rule 3.4 (Suitability);
(b) Rule 6.5 (Best Execution);
(c) Rule 6.7 (Aggregation and Allocation); and
(d) Rule 12 (Key Information and Client Agreement).