Entire Section

  • GEN 2.17.1 GEN 2.17.1

    (1) In GEN Rule 2.2.2, Operating an Exchange means operating a facility which functions regularly and brings together multiple third party buying and selling interests in Investments, in accordance with its nondiscretionary rules, in a way that can result in a contract in respect of Investments admitted to trading or traded on the facility.
    (2) The facility referred to in (1) may be organised on a temporary or permanent basis and can be an order driven system, a quote driven system or a hybrid of such systems that enables the market to operate electronic trading or trading by other means.
    Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
    [Amended] DFSA RM119/2013 (Made 14th July 2013). [VER33/07-13]
    [Amended] DFSA RM166/2016 (Made 10th February 2016). [VER36/04-16]

    • GEN 2.17.1 Guidance

      1. An Authorised Market Institution authorised to Operate an Exchange may carry on the Financial Service of operating a Multilateral Trading Facility, as defined in GEN Rule 2.22.1(1)(a), provided it has an endorsement on its Licence that permits it to do so (see GEN Rule 2.2.12).
      2. An Authorised Market Institution may also act as a Trade Repository if it has an endorsement on its Licence that permits it to do so (see GEN Rule 2.2.13). Acting as a Trade Repository does not constitute a Financial Service but is subject to the additional conduct requirements in GEN App 5.
      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]
      [Amended][VER4/08-05]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER27/02-11]
      [Amended] DFSA RM119/2013 (Made 14th July 2013). [VER33/07-13]
      [Amended] DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]