39

MARKET PULSE 

FEB-2018

It is illegal to reproduce this material in any format without prior 

written approval of LankaBangla Securities Limited.

not be eligible for the appointment and re 
appointment as a designated client for the 
making of a securities market; 

10. The concerned exchange can accept 

or reject applications for inclusions 
subject to the conditions contained 
in any designated client of a market 
maker; 

11. The market maker of any authorized 

securities will inform the concerned 
exchange of the following specifications 
of its designated client, immediately in 
relation to the following:

a. Any material changes in the 

information or statement of the 
business to the commission or related 
exchange; 

b. If any rules or orders or instructions 

made under the Ordinance by the 
client or any of them are violated.

c. If the commission has taken a 

disciplinary action against it; And 

d. If there is a restriction imposed by the 

Commission;

12. The Market Maker shall be responsible 

and be liable for the transaction in 
the account of the designated client, 
recording the separate details of 

transaction of that account of the 
designated client, its documents 
and shall separately submit to the 
commission or exchange.

13. In case of transactions, the designated 

client shall comply with the relevant 
rules and regulations.

Facilities of Market Maker, etc  

The concerned exchange, depository and 
clearing and settlement companies would 
formulate the applicable policies with the 
prior approval of the Commission: The fee 
and other benefits and incentives shall be 
provided to the market maker.

Things to Be Done by The 
Maker of The Market  

1. Every market maker:
a. shall conduct its activities with 

utmost integrity, loyalty, efficiency 
and devotion on behalf of its 
designated client and shall abide by 
the terms of the tripartite agreement 
in relation to the appointment and 
the law, ordinance, regulations of 
these rules and regulations of the 
concerned Exchange, its sub-rules 
and regulations, 

b. shall not furnish any untrue or 

misleading information to the 
Commission and the concerned 
Exchange;

c. In the event of any material change 

in the information or statement of 
the business submitted previously 
to the Commission and the 
concerned exchange, among 
others, the following things shall 
immediately be informed to the 
Commission and the concerned 
Exchange, namely: 

It is required to submit 
the bilateral agreement 
executed amongst the 
market maker and the 
designated client and the 
copy of the power with the 
application of inclusion as 
a designated client in the 
concerned exchange and 
which shall require to be 

vetted by the exchange.