Mark-up or Mark-down

Past version: effective up to 31/01/2016
To view other versions open the versions tab on the right

(1) When an Authorised Firm receives instructions from a Client and takes a principal position in the relevant Investment in order to complete a transaction, that is, when the Authorised Firm takes a principal position in the relevant Investment which it would not other wise take, except to complete that transaction, difference, if any, between:
(a) the price at which the Authorised Firm takes a principal position in the relevant Investment;and
(b) the price at which the Authorised Firm Executes the transaction with its Client; or
(2) When a an Authorised Firm Executes a transaction with its Client against its own book and owes a duty of best execution, the difference between:
(a) the price at which best execution would be achieved; and
(b) the price at which the Authorised Firm Executes the transaction with its Client.

Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]