MIR 2.8.5

In assessing whether access to a Recognised Body's facilities is subject to criteria designed to protect the orderly functioning of the market, or of those facilities, and the interests of investors, the Regulator may have regard to whether:

(a) the Recognised Body limits access as a Member to such Persons:
(i) over whom it can with reasonable certainty enforce its rules contractually;
(ii) who have sufficient technical competence to use its facilities;
(iii) whom it is appropriate to admit to membership having regard to the size and sophistication of users of its facilities and the nature of the business effected by means of, or cleared through, its facilities; and
(iv) (if appropriate) who have adequate financial resources in relation to their exposure to the Recognised Body;
(b) indirect access to the Recognised Body's facilities is subject to suitable criteria, remains the responsibility of a Member of the Recognised Body and is subject to its rules;
(c) where access is granted to Members outside the Abu Dhabi Global Market, there are adequate safeguards against financial crime.
(d) the Recognised Body’s rules:
(i) over whom it can with reasonable certainty enforce its rules contractually;
(ii) set out the risk for Members and other participants when accessing and participating on the Recognised Body’s facilities;
(iii) contain provisions for the resolution of Members’ and other participants’ disputes and an appeal process for the decisions of the Recognised Body;
(iv) contain disciplinary proceedings, including any sanctions that may be imposed by the Recognised Body against its Members and other participants; and
(v) any other matters necessary for the proper functioning of the Recognised Body and the facilities operated by it.