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MAE-4.6.15

A licensed exchange or licensed market operator may have regards to the following situations in determining exceptional circumstances referred to under Paragraph MAE-4.6.14:

(a) A situation of extreme volatility;
(b) Disorderly trading conditions where the maintenance of fair, orderly and transparent execution of trades is compromised, and evidence of any of the following is provided;
(i) the performance of the licensed exchange or licensed market operator system being significantly affected by delays and interruptions;
(ii) force majeure or cyber sabotage.
(c) Where the market maker's ability to maintain prudent risk management practices is prevented by any one of the following;
(i) technological issues, including problems with the data feed or other systems to carry out market making; and
(ii) risk management issues in relation to capital requirement, margining and access to clearing.
Added: January 2019