COLL 7.1.7 What is an eligible market?

(1) For these rules, a derivatives or securities market is an eligible market in relation to a QFC scheme if it meets all the following requirements:
(a) the operator, after consultation with and notification to the independent entity, decides that the market is appropriate for investment of scheme property or dealing in investments for the scheme property;
(b) the market is included in a list in the latest filed prospectus;

Note Latest filed prospectus is defined in the glossary.
(c) the independent entity has taken reasonable care to decide that—
(i) adequate custody arrangements can be provided for dealing in investments on the market; and
(ii) all reasonable steps have been taken by the operator in deciding whether the market meets the requirement of this rule.
(2) For subrule (1) (a), a market may be considered appropriate only if it meets all the following requirements:
(a) it is regulated;
(b) it operates regularly;
(c) it is recognised as a market or exchange, or as a self-regulating organisation, by an appropriate regulatory or governmental entity;
(d) it is open to the public;
(e) it is adequately liquid;
(f) it has adequate arrangements for unimpeded transmission of income and capital to or to the order of investors.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)