COB 9.6.5

(1) An ATS Operator must be able to cancel, amend or correct any error trades.

(2) An “Error Trade” is the execution of an order resulting from:

(a) an erroneous order entry;
(b) malfunctioning of the system of a member or of the ATS Operator; or
(c) a combination of (a) and (b).

(3) For the purposes of (1), an ATS Operator must include a comprehensive error trade policy in its Operating Rules, which sets out clearly the extent to which transactions can be cancelled by it at its sole discretion, at the request of a member or by mutual consent of members involved.

(4) An ATS Operator must have adequate systems and controls to:

(a) prevent or minimise error trades;
(b) promptly identify and rectify error trades where they occur; and
(c) identify whether error trades are related to disorderly market activity.
[Added] DFSA RM123/2013 (Made 13th June 2013) [VER22/07-13]