Whole Section

  • 5.4 Acting as Principal to Customer

    • 5.4.2

      Subject to Rule 8.1.1, if a Trading Member or its Trading Representative wants to trade as principal (as defined under Regulation 47B of the SFR (Licensing and Conduct of Business) with a customer who is not a holder of a Capital Markets Services Licence, the Trading Member (where the Trading Member is the one so trading) or the Trading Representative (where the Trading Representative is the one so trading) must inform the customer that the Trading Member or the Trading Representative is acting in the transaction as principal and not as agent.

      Added on 3 June 20193 June 2019.

    • 5.4.3

      Any contract note relating to the above transaction must show that the Trading Member or Trading Representative acted as principal.

      Added on 3 June 20193 June 2019.

    • 5.4.4

      This Rule 5.4 does not apply to trades that are matched on the Trading System without the Trading Member's or Trading Representative's knowledge.

      Added on 3 June 20193 June 2019.