The International Organisation of Securities Organisations (IOSCO) published the final report on “Policies on Error Trade”. In order to provide guidance to exchanges and regulators, and allow exchanges to assess and develop their practices, this Report articulates several recommendations with respect to the design of error trade policies. However, this Report makes no recommendations as to the appropriate scope of error trade policies. While this Report encourages the adoption of error trade policies, it is not intended to mandate a particular application of trade cancellation policies.
IOSCO conducted an open consultation on the draft report in February. Comments received can be downloaded below.
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