IOSCO publishes report on direct market access
The Technical Committee of the International Organization of Securities Commissions (IOSCO) published its final report on for direct electronic access to markets on August 13, 2010. The report sets out principles designed to guide intermediaries, markets and regulators on pre-conditions for direct electronic access (DEA), information flow and adequate systems and controls. The principles identified in the report include minimum customer standards, legally binding agreements between intermediaries and customers, ultimate responsibility of intermediaries for trades, disclosure of customer identity to market authorities on request, pre and post-trade transparency and adequate systems and controls.
