| Subject Area | Financial Regulation and Supervision |
| Issuing Body | IOSCO |
| Date of Issuance |
August 2010 |
| Location | |
| Summary Description |
IOSCO sets forth Principles for Direct Electronic Access to Markets. |
| Detailed Description |
IOSCO sets forth principles to guide markets, intermediaries and regulators. The principles are premised on the recognition that markets, intermediaries, and regulators each must play a role in addressing the risks of direct electronic access (DEA). IOSCO sets forth elements regarding principles pertinent to DEA, including those that address pre-conditions for DEA, information flow, and adequate systems and controls. A key aspect of the principles provide that neither the market nor an intermediary should offer DEA unless adequate pre-trade information is provided, and both regulatory and financial controls, including automated pre-trade controls, are in place to enable intermediaries to implement appropriate risk limits. |