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MAE-4.6.10

A licensed exchange or licensed market operator must put in place the internal procedures and controls to regulate the activity of market making. Such procedures and controls, at the minimum, must include:

(a) The technical requirements;
(b) The trading and settlement mechanism relating to the orders of a market maker;
(c) The type and amount of settlement guarantees required for practising the activity of market making;
(d) The obligations of a market maker in connection with providing liquidity;
(e) Determine the list of securities eligible for market making;
(f) Mechanism to identify the market maker's orders/trades in order to ensure separation between brokerage and market making activities performed by the member;
(g) Reporting requirements by market makers and issuers; and
(h) Disclosure requirements by market makers and issuers.
Added: January 2019