Podcast
Questions and Answers
Why is it important for the dealer to alert senior management as soon as a mistake or dispute arises?
Why is it important for the dealer to alert senior management as soon as a mistake or dispute arises?
- To ensure that the dispute is resolved in a timely manner
- To prevent any further loss from occurring (correct)
- To eliminate the risk of market participants benefiting from the dispute
- To ensure that both parties agree to close out the position
What is the significance of closing out a position with agreement from both parties in case of disputes involving an open position or unmatched position?
What is the significance of closing out a position with agreement from both parties in case of disputes involving an open position or unmatched position?
- It allows dealers to cover their risk positions outside normal trading hours
- It reduces the involvement of senior management in dispute resolution
- It ensures equitable resolution and prevents market participants from benefitting (correct)
- It eliminates the risk of any further disputes
Why should management explicitly specify the dealers authorized to deal in off-premises or after-hours transactions?
Why should management explicitly specify the dealers authorized to deal in off-premises or after-hours transactions?
- To enable senior management to have more control over dealers' activities
- To ensure that all dealers are equally involved in off-premises transactions
- To establish a clear procedure for prompt reporting and recording of off-premises transactions (correct)
- To prevent disputes from arising during off-premises dealing
What is the purpose of reporting and recording off-premises transactions according to the text?
What is the purpose of reporting and recording off-premises transactions according to the text?
Why is it crucial for senior management to be involved in the early stage of disputes according to the text?
Why is it crucial for senior management to be involved in the early stage of disputes according to the text?
What should management put in place to ensure clear guidelines for dealers regarding permitted products and limits?
What should management put in place to ensure clear guidelines for dealers regarding permitted products and limits?
What must dealers be made aware of regarding off-premises trades, according to Principle 15 of FXGC 44?
What must dealers be made aware of regarding off-premises trades, according to Principle 15 of FXGC 44?
What does the dealing room security measures aim to control?
What does the dealing room security measures aim to control?
What is crucial regarding access by developers to production systems according to the text?
What is crucial regarding access by developers to production systems according to the text?
What should be available for review according to the text in relation to system actions by users and developers?
What should be available for review according to the text in relation to system actions by users and developers?
