The Recognised Auction Platforms Regulations 2011 come into force partly on 12 December 2011 and mainly on 18 June 2012. The Regulations implement the UK’s obligation to apply certain requirements of MiFID and the Market Abuse Directive to auctioning of greenhouse gas emission allowances. The instrument sets out the procedure for applications for recognised auction platforms – which only Recognised Investment Exchanges may apply to be. It also adds auction platforms and emission allowances to the relevant instruments setting out what is covered by the market abuse regime and applies parts of the Money Laundering Regulations to auction platforms auctioning certain emissions allowances. (Source: The Recognised Auction Platforms Regulations 2011 (S.I. 2011 No. 2699))