COB 9.1 COB 9.1 Application and interpretation
COB 9.1.1 COB 9.1.1
This chapter applies to an
Authorised Firmwhich Operatesan Alternative Trading System(ATS Operator).[Added] DFSA RM123/2013 (Made 13th June 2013) [VER22/07-13]
COB 9.1.1 Guidance1. The
Financial Serviceof Operatingan Alternative Trading Systemcan be either operating a Multilateral Trading Facility(MTF) or operating an Organised Trading Facility(OTF). See GEN Rule 184.108.40.206. An ATS Operator that is Operating a Facility for Investment Tokens is, in addition to the requirements in this chapter, subject to the applicable requirements in chapter 14.
COB 9.1.2 COB 9.1.2
In this chapter:(a) a reference to a “member” is a reference to a
Clientof the ATS Operatorwho has been granted access to its facilities in accordance with the requirements in this chapter and, unless otherwise specified, includes a Direct Access Member;(b) a reference to a “facility” is a reference to a Multilateral Trading Facility(MTF) and an Organised Trading Facility(OTF), except where specific reference is made only to an MTFor OTF;(c) a reference to an “ ATS Operator” is a reference to a Personoperating an MTFand a Personoperating an OTF, except where specific reference is made only to a Personoperating an MTFor a Personoperating an OTF; and(d) where a Rulein this chapter conflicts with any other provision in the DFSA Rulebook, the Rulein this chapter prevails over those other provisions.
COB 9.1.2 Guidance
Under COB Rule 9.3.1(1)(e), an ATS Operator that is Operating a Facility for Investment Tokens is permitted to admit certain additional Persons as members, where their access is only for trading or clearing of Investment Tokens. Such Persons are defined in GLO and referred to in this module as Direct Access Members.Derived from DFSA RMI311/2021 (Made 30th June 2021). [VER39/10-21]