An investment exchange recognised by the Financial Services Authority (FSA) under Part XVIII of the Financial Services and Markets Act 2000 (FSMA), such that a recognition order is in force in respect of it. As an exempt person, an RIE is exempt from the general prohibition under FSMA in respect of any regulated activity which is carried on as part of the exchange's business as an investment exchange, or which is carried on for the purposes of, or in connection with, the provision of clearing services by the exchange.
The FSA Handbook sets out the recognition and notification requirements for RIEs (in the Recognised Investment Exchanges and Recognised Clearing Houses sourcebook).
There are currently seven RIEs in the UK listed in the FSA's register: EDX London Limited; London Stock Exchange; virt-x Exchange Limited; LIFFE Administration and Management; the London Metal Exchange; ICE Futures; and PLUS Markets plc.
FSA website
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.