COBS 8.6.6

An OTF Operator shall exercise discretion only in the following circumstances:

(a) when deciding to place or retract an order on the OTF they operate; and/or
(b) when deciding not to match a specific Client order with other orders available in the systems at a given time, provided it is in compliance with specific instructions received from a Client and with its "best execution" obligations in accordance with these Rules.