Whole Section

  • 13.2 Acting as Agent

    • 13.2.1

      When acting as agent, a Trading Member and its Trading Representative must:

      (1) carry out the customer's instructions;
      (2) exercise skill, care and diligence;
      (3) act in good faith;
      (4) act in the best interests of customers, and comply with any obligation for best execution as set out in applicable laws and regulations;
      (5) if asked, disclose all circumstances and risks that could reasonably be expected to affect a customer's decision;
      (6) if asked, inform the customer of the current best bid and offer prices on the Trading System;
      (7) disclose the commission and any benefit directly or indirectly receivable on the transaction;
      (8) not enter into a transaction which may conflict with a duty owed to the customer, unless the customer is informed of the conflict and consents to the transaction; and
      (9) not disclose a customer's order unless:—
      (a) the prior written consent of the customer for the disclosure of the information is obtained;
      (b) the disclosure is for the effective execution of the customer's order;
      (c) the disclosure is necessary for the operations and risk management of the Trading Member if these functions have been outsourced by the Trading Member; or
      (d) the disclosure is required under the law or under the Rules.

      Amended on 3 April 20083 April 2008 and 8 October 20188 October 2018.

    • 13.2.2

      A Trading Member must ensure that a person to whom it discloses a customer's order under Rules 13.2.1(9)(b) and (c) maintains confidentiality of such information.