COB 14.2.1 Guidance

1. A Direct Access Member is defined in GLO as a Person that an ATS Operator has admitted as a member under COB Rule 9.3.1(1)(e).
2. A Person will only be admitted as a Direct Access Member where that Person does not meet any of the criteria at COB 9.3.1(1)(a)-(d), although a Person admitted as a member under any of those criteria may also trade Investment Tokens. A Direct Access Member may be an individual or a Body Corporate, but will not, for example, be an Authorised Firm or an institutional investor whose main activity is to invest in financial instruments.
3. See also the requirements relating to Direct Access Members in COB Rule 9.3.1(4).


Derived from DFSA RMI311/2021 (Made 30th June 2021). [VER39/10-21]