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MAE-4.6.3

A licensed exchange or licensed market operator may have regard to the following matters in determining whether an applicant has satisfied the eligibility criteria:

(a) Adequate financial capital and qualified technical and administrative staff to practice market making;
(b) Separation between market making and any other activities that the member is licensed to practice in terms of organisational, technical, financial and administrative arrangements. Evidence thereof may be submitted by the member through the following;
(i) The adopted mechanism to separate the market making from other licensed activities;
(ii) The staff assigned to perform market making activities;
(iii) Experience and qualification of technical and administrative staff assigned to perform market making activities;
(c) Details of risk management systems and internal control procedures.
Added: January 2019