AMI 5.7.3

(1) An Authorised Market Institution may only permit a Member to provide its clients Direct Electronic Access to the Authorised Market Institution's trading facilities where:
(a) the clients meet the suitability criteria established by the Member in order to meet the requirements in (2):
(b) the Member retains responsibility for the orders and trades executed by the clients who are using Direct Electronic Access;
(c) the Member has adequate mechanisms to prevent the clients placing or executing orders using Direct Electronic Access in a manner that would result in the Member exceeding its position or margin limits; and
(d) the Member is not a Direct Access Member.
(2) An Authorised Market Institution which permits its Members to allow their clients to have Direct Electronic Access to its trading facilities must:
(a) set appropriate standards regarding risk controls and thresholds on trading through Direct Electronic Access;
(b) be able to identify orders and trades made through Direct Electronic Access; and
(c) if necessary, be able to stop orders or trades made by a client using Direct Electronic Access provided by the Member without affecting the other orders or trades made or executed by that Member.
(3) For the purposes of this Rule and elsewhere in the Rulebook, Direct Electronic Access means any arrangement, such as the use of the Member's trading code, through which a Member or the clients of that Member are able to transmit orders relating to Investments directly to the facility provided by the Authorised Market Institution.
(4) For avoidance of doubt, a Person who is permitted to have Direct Electronic Access to an Authorised Market Institution's facilities through a Member is not, by virtue of such permission, a Member of the Authorised Market Institution.
Derived from RM118/2013 [VER15/07-13]
[Amended] DFSA RMI310/2021 (Made 30th June 2021). [VER20/10-21]