The Capital Markets (Derivatives Markets) Regulations
3. Obligation to obtain a licence
3. Obligation to obtain a licence
A person shall not establish, run, conduct, organize or assist in establishing, running, conducting or organizing a derivatives exchange unless that person has obtained a licence from the Authority:Provided that a securities exchange, which has been operating under the Act at the commencement of these Regulations and is desirous of running a derivatives market, shall apply to the Authority for an additional licence for listing derivatives contracts under these Regulations and all the provisions of these Regulations shall apply to such securities exchange.Source: Kenya Law