GEN 2.22.1

(1) In Rule 2.2.2, Operating an Alternative Trading System means:
(a) operating a Multilateral Trading Facility ("MTF"); or
(b) operating an Organised Trading Facility ("OTF").
(2) In (1)(a), a Person operates an MTF if that Person operates a system which brings together multiple third party buying and selling interests in Investments, in accordance with its non-discretionary rules, in a way that results in a contract in respect of such Investments.
(3) In (1)(b), a Person operates an OTF if that Person operates a system which brings together multiple third party buying and selling interests in Investments, in accordance with its discretionary rules, in a way that results in a contract in respect of such Investments.
[Added][VER4/08-05]
[Amended] DFSA RM119/2013 (Made 14th July 2013). [VER33/07-13]