Article 722-12 into force since
- Version into force since
For the application of Article L. 54-10-5 V 4° of the Monetary and Financial Code, the services provider licensed to provide the service of operation of a trading platform for digital assets shall adopt the platform's operating rules. These stipulate in particular:
the conditions of users' access to the trading platform for digital assets and their obligations;
the list or categories of digital assets that can be traded on the platform;
the operating conditions of the trading platform for digital assets in the event of the use of discretion in the execution of orders. An operator of a trading platform for digital assets may exercise discretion in the following circumstances:
a) when it decides to place or withdraw an order on the platform that it operates; or
b) when it decides not to match a specific user's order with other orders available in the system at any given time.
the conditions in which the operator of the trading platform may use its own capital under the conditions mentioned in Article 722-14;
the conditions for trading digital assets on the platform, including:
a) the procedures for matching buying and selling interests, including the rules on priority of order execution;
b) the types of orders that may be processed on the trading platform;
c) the rules that apply where an automated trading system is used by clients, including limiting the number of messages that can be sent by this system;
d) the information made public concerning buying and selling interests and the transactions performed;
e) the rules designed to prevent behaviour likely to adversely affect proper functioning of the trading platform and the integrity of the digital assets market; and
f) the procedures for suspending trading or notifying users in the event of a malfunction or failure of the trading platform.
the consequences for users in the event of non-compliance with the operating rules;
the transaction settlement procedures;
where applicable, the procedures allowing effective withdrawal of users' funds or digital assets, including in the event of a malfunction or failure of the trading platform or when trading is suspended;
the information that the services provider may not commit its capital in accordance with Article 722-14; and
where applicable, the conditions of custody of clients' digital assets by the trading platform for digital assets, without prejudice to the application of Articles 722-1 to 722-4.
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02