COB 9.6.11

(1) An ATS Operator must:

(a) ensure that there are satisfactory arrangements in place for securing the timely discharge of the rights and liabilities of the parties to transactions conducted on or through its facility; and
(b) inform its members and other Persons having access to its facility through members of details relating to such arrangements.

(2) For the purposes of (1)(a), an ATS Operator must ensure that:

(a) the Person who provides clearing and settlement services to a member is either:
(i) an Authorised Person appropriately licensed to carry on clearing or settlement services; or
(ii) an entity which is authorised and supervised by a Financial Services Regulator acceptable to the DFSA for the activity of clearing and settlement services and is operating under broadly equivalent standards as defined under Chapter 7 of the AMI module; and
(b) notification of such arrangements (including any changes thereto) is provided to the DFSA at least 30 days before making the arrangements and the DFSA has not objected to such arrangements within that period.
[Added] DFSA RM123/2013 (Made 13th June 2013) [VER22/07-13]