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MAE-1.6.3

The applicant must additionally be able to demonstrate to the CBB and the CBB must be satisfied that it has:

(a) The financial resources, and the management and human resources with appropriate experience, necessary for the operation of a marketG or exchange;
(b) Made arrangements for the proper supervision of all transactions effected through the marketG or exchange so as to ensure compliance with its rules;
(c) Taken sufficient steps to maintain security and back-up procedures to ensure the integrity of the records of transactions effected through the marketG or exchange;
(d) Insurance, a guarantee or compensation fund or other warranty plans in place to enable it to provide compensation, subject to the business rulesG , to clients; and
(e) Made provisions, to the satisfaction of the CBB, for the clearing and settlement of transactions effected through the marketG or exchange and for the management of trade and settlement risk.
 Versions
(1 Version)
 
Oct 1 2008 onwards
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