COB 9.2.1

(1) An ATS Operator must, at the time a Licence is granted and at all times thereafter, have:

(a) transparent and non-discriminatory rules and procedures to ensure fair and orderly trading of Investments on its facility (“Operating Rules”);
(b) objective criteria governing access to its facility (“Access Criteria”);
(c) objective and transparent criteria for determining the Investments that can be traded on its facility (“Investment Criteria”);
(d) adequate technology resources (“Technology Resources”); and
(e) rules and procedures to ensure only Investments in which there is a Proper Market are traded on its facilities (“Proper Markets”).

(2) A breach of the Operating Rules of an ATS Operator is a prescribed matter for the purposes of Article 67(1)(b) of the Regulatory Law 2004.

[Added] DFSA RM123/2013 (Made 13th June 2013) [VER22/07-13]