trade cancellations
QUOTE MTF adopts a CLEARLY ERRONEOUS TRADE POLICY for the purpose of protecting QUOTE MTF’s marketplace integrity. It is intended to apply to the rare occurrence when a Subscriber mistakenly buys or sells securities on QUOTE MTF significantly outside the prevailing market. We also retain the discretion to cancel executed QUOTE MTF trades that have not yet been submitted by us for clearing and settlement process on the terms described in our QUOTE MTF CLEARLY ERRONEOUS POLICY. Trades cancelled on trade date will be removed from the trading record and will not be included in the data forwarded to the Appointed Clearing Facility.
QUOTE MTF refuses to conclude a contract and to process orders based on an existing framework agreement if:
- this would qualify as insider trading or market manipulation,
- this would be contrary to any statutory regulation or the regulation of a regulated market, a stock exchange in a third country fulfilling the requirements of a regulated market, a clearing house, a central counterparty or a central depository,
- the contracting party or client did not provide proof of identity or the identification was unsuccessful for any other reason.
QUOTE MTF immediately notifies the Hungarian Financial Supervisory Authority if it has denied the conclusion of a contract or the process of an order based on point a) above.
