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Jul 14 2013 onwards

AMI A1.3.1 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 the trading algorithm testing plan of its MembersG is adequate and appropriate and implemented effectively, an Authorised Market InstitutionG should consider whether:

a. it includes testing where the markets in which the algorithm is to be used change in structure;
b. the MemberG has taken into account any limits that are being placed on the number of InvestmentsG to be traded on, and the value and number of orders to be sent to, the facility operated by the Authorised Market InstitutionG ;
c. the algorithm works effectively in stressed market conditions, including whether it can be switched off in appropriate circumstances; and
d. it includes adequate independent auditing of the Member'sG testing procedures.
Derived from RM118/2013 [VER15/07-13]