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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Authorised Market Institutions (AMI) [VER18/02-17]
Part 3 Licensing Requirements
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Jul 14 2013 onwards

AMI 5.7.2

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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) An Authorised Market InstitutionG may only, subject to (2) and (3), admit as a MemberG a PersonG which is:
(a) an Authorised PersonG ;
(b) a PersonG who is admitted to the list of Recognised PersonsG pursuant to Article 37 of the Markets Law 2012; or
(c) a PersonG who meets the criteria in GEN Rule 2.3.2(2).
(2) An Authorised Market InstitutionG must not admit as a MemberG a PersonG referred to in (1)(c) unless such PersonG :
(a) agrees in writing to submit unconditionally to the jurisdiction of the DFSAG in relation to any matters which arise out of or which relate to its use of the facilities of the Authorised Market InstitutionG ;
(b) agrees in writing to submit unconditionally to the jurisdiction of the DIFCG Courts in relation to any proceedings in the DIFCG , which arise out of or relate to its use of the facilities of the Authorised Market InstitutionG ;
(c) agrees in writing to subject itself to the DIFCG laws and the jurisdiction of the DIFCG Courts in relation to its use of the facilities of the Authorised Market InstitutionG ; and
(d) appoints and maintains at all times, an agent for service of process in the DIFCG and requires such agent to accept its appointment for service of process.
(3) Prior to admitting a PersonG referred to in (1) as a MemberG , an Authorised Market InstitutionG must undertake due diligence to ensure that such a PersonG :
(a) is of sufficient good repute;
(b) has a sufficient level of competence and experience, including appropriate standards of conduct for its staff who will be permitted to use its order entry system; and
(c) has organisational arrangements, including financial and technological resources, which are no less than those of an Authorised FirmG carrying out similar Financial ServicesG .
Derived from RM118/2013 [VER15/07-13]