Significant infringements of the rules of a trading venue
1. Market participants infringe rules of the trading venue which aim to protect the market integrity, the orderly functioning of the market or the significant interests of the other market participants; and
2. A trading venue considers that an infringement is of sufficient severity or impact to justify consideration of disciplinary action.
Disorderly trading conditions
3. The price discovery process is interfered with over a significant period of time;
4. The capacities of the trading systems are reached or exceeded;
5. Market makers/liquidity providers repeatedly claim mis-trades; or
6. Breakdown or failure of critical mechanisms under paragraphs 3 to 3F of the Schedule to the Recognition Requirements Regulations, and Parts 5.3A and 5.5A of the Market Conduct sourcebook which are designed to protect the trading venue against the risks of algorithmic trading.
System disruptions
7. Any major malfunction or breakdown of the sys
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