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  • Securities account and bank account associated with the market making agreement

    • MIR-4.19.16

      Trades performed under the market making agreement must be recorded through entries made by the market maker in two accounts, (i) a securities account and (ii) a bank account, both opened in the name of the issuer and used solely for market making transactions.

      Added: January 2019

    • MIR-4.19.17

      When the market making agreement is terminated, regardless of the reason, the securities account and the bank account referred to in Paragraph-MIR-4.19.16 must be cancelled in accordance with the following procedure:

      a) Bank account: The market maker will transfer the balance to another account designated by the issuer.
      b) Securities Account: The market maker must sell the securities in the securities account. Such sales must be performed in the issuer's best interests but without interfering with or hampering normal market operations and without misleading other market participants.
      Added: January 2019

    • MIR-4.19.18

      Provisions of Paragraph MIR-4.19.17 should not apply where:

      a) The securities are transferred to another market maker entrusted with another market making agreement by the same issuer.
      b) The issuer, upon termination of market making agreement, may recover a number of securities, in which case that number may not exceed the number of securities initially deposited by the issuer.
      Added: January 2019