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COB 14.2.2

An ATS Operator must ensure that:

(a) it treats each Direct Access Member as its Client;
(b) its Operating Rules clearly set out:
(i) the duties owed by the ATS Operator to the Direct Access Member and how the ATS Operator is held accountable for any failure to fulfil those duties; and
(ii) the duties owed by the Direct Access Member to the ATS Operator and how the member is held accountable for any failure to fulfil those duties;
(c) appropriate investor redress mechanisms are available, in accordance with GEN chapter 9, and disclosed to each member permitted to trade Investment Tokens on its facility; and
(d) its facility contains a prominent disclosure of the risks associated with the use of DLT for trading and clearing Investments, particularly those relating to Digital Wallets and the susceptibility of private cryptographic keys to misappropriation.

 

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