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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Rulebook Modules
Conduct of Business Module (COB) [VER33/07-19]
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Financial Markets Tribunal
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  Versions
(1 version)
 
Jul 14 2013 onwards

COB 9.6.5

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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 ATS OperatorG must be able to cancel, amend or correct any error trades.

(2) An “Error TradeG ” 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 OperatorG ; or
(c) a combination of (a) and (b).

(3) For the purposes of (1), an ATS OperatorG must include a comprehensive error trade policy in its Operating RulesG , 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 OperatorG 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]