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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Conduct of Business Module (COB) [VER32/02-19]
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Jul 14 2013 onwards

COB 9.6.5 Guidance



Whole Section PDF

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.

When assessing whether an ATS OperatorG has an appropriate and adequate error trade policy, the DFSAG will consider whether the rules and procedures included in its Operating RulesG :

a. are adequate to minimise the impact of error trades where prevention of such trades is not possible;
b. are sufficiently flexible in the design to address varying scenarios;
c. establish a predictable and timely process for dealing with Error TradesG , including measures specifically designed to detect and identify Error TradeG messages to market users;
d. promote transparency to market users with regard to any cancellation decisions involving material transactions resulting from the invocation of the Error TradeG policy;
e. include adequate surveillance conducted in the markets to detect Error TradesG ;
f. promote predictability, fairness and consistency of actions taken under the Error TradeG policy; and
g. enable sharing of information with other markets when possible concerning the cancellation of trades.
[Added] DFSA RM123/2013 (Made 13th June 2013) [VER22/07-13]