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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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(1 version)
Jul 14 2013 onwards

AMI A1.3.1

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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.

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(1) An Authorised Market InstitutionG must implement standardised conformance testing procedures to ensure that the systems which its MembersG are using to access facilities operated by it have a minimum level of functionality that is compatible with the Authorised Market Institution'sG information technology systems and will not pose any threat to fair and orderly conduct of its facilities.
(2) An Authorised Market InstitutionG must also require its MembersG , before commencing live operation of any electronic trading system, user interface or a trading algorithm, including any updates to such arrangements, to use adequate development and testing methodologies to test the viability and effectiveness of their systems.
(3) For the purposes of (2), an Authorised Market InstitutionG must require its MembersG :
(a) to adopt trading algorithm tests, including tests in a simulation environment which are commensurate with the risks that such a strategy may pose to itself and to the fair and orderly functioning of the facility operated by the Authorised Market InstitutionG ; and
(b) not to deploy trading algorithms in a live environment except in a controlled and cautious manner.
Derived from RM118/2013 [VER15/07-13]