PIB 2.2.3

An Authorised Firm which has a Trading Book must have adequate systems and controls to:

(a) monitor the size of its Trading Book; and
(b) ensure that positions are included consistently in its Trading Book and Non-Trading Book so that:
(i) the inclusion of hedging positions in the Trading Book or the Non-Trading Book at all times reflects the intent of the Authorised Firm in holding the position; and
(ii) adequate records are made if positions are transferred between Trading and Non-Trading Books so that the transfers may be identified.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]