The UK Financial Conduct Authority is seeking comments on proposed guidance to be issued to operators of so-called multilateral trading facilities (In Europe, MTFs are non-exchange financial trading venues, much like alternative trading systems in the United States). Among other matters, the proposed guidance suggests what matters should be addressed in MTF rulebooks, that the process for amending rulebooks and the standards for participant eligibility should be transparent (with participant eligibility being monitored on an ongoing basis), and that MTFs specifically have rules identifying what constitutes “potential disorderly market conditions” as well as a “clear reference to the prohibition on market abuse.” As proposed by the draft guidance, MTFs should have rules and control arrangements that seek to prevent disorderly market conditions and to identify potential market abuse. Comments will be accepted until January 16, 2015.