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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Rulebook Modules
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases

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(1 version)
Jul 14 2013 onwards

AMI A2.1.2

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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.

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(1) An Authorised Market InstitutionG may only admit to trading or clearing or trade on its facilities InvestmentsG that reference to an underlying benchmark or index provided by a Price Information ProviderG where it has undertaken appropriate due diligence to ensure that the Price Information ProviderG , on an on-going basis, meets the requirements set out in (3).
(2) A Price Information ProviderG is a price reporting agency or an index provider which constructs, compiles, assesses or reports, on a regular and systematic basis, prices of Investments, rates, indices, commodities or figures, which are made available to users.
(3) For the purposes of (1), the Price Information ProviderG must:
(a) have fair and non-discriminatory procedures for establishing prices of InvestmentsG which are made public.
(b) demonstrate adequate and appropriate transparency over the methodology, calculation and inputs to allow users to understand how the benchmark or index is derived and its potential limitations;
(c) where appropriate, give priority to concluded transactions in making assessments and adopt measures to minimise selective reporting;
(d) be of good standing and repute as an independent and objective price reporting agency or index provider;
(e) have a sound corporate governance framework;
(f) have adequate arrangements to avoid its staff having any conflicts of interest where such conflicts are, or are likely to have, a material adverse impact on price establishment process; and
(g) adequate complaint resolution mechanisms to resolve any complaints about the Price Information Provider'sG assessment process and methodology.
Derived from RM118/2013 [VER15/07-13]