GEN 2.17.1

Past version: effective up to 13/07/2013
To view other versions open the versions tab on the right

In GEN Rule 2.2.2, Operating an Exchange means operating a facility:

(a) organised on a temporary or permanent basis, whether or not governed by enforceable rules;
(b) which provides a market, whether primary or secondary or both, for the trading of Investments;
(c) which provides a system or mechanism, whether an order driven system, a quote driven system or a hybrid of such systems, enabling the market to operate by face to face trading (open outcry), electronic trading or trading by other means; and
(d) through which:
(i) offers to buy or sell Investments are made or accepted;
(ii) buyers and sellers can negotiate the purchase or sale of Investments;
(iii) contracts can be entered into for the transfer of ownership of or the title to Investments;
(iv) the timely discharge (whether by performance, compromise or otherwise) of the rights and liabilities of the parties to the transactions in respect of which they provide such services (being rights and liabilities in relation to those transactions) is secured; or
(v) the prices of Investments, price movements and price and size of the most recent trades are displayed and updated.
Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]