COB 9.6.6

(1) An ATS Operator must have in place effective systems, controls and procedures to monitor and manage:

(a) Short Selling in Securities; and
(b) position concentrations.

(2) For the purposes of (1), an ATS Operator must have adequate powers over its members to address risks to an orderly functioning of its facility arising from unsettled positions in Investments.

(3) Short Selling for the purposes of this Rule constitutes the sale of a Security by a Person who does not own the Security at the point of entering into the contract to sell.

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