| 1. |
VASPs may only provide Margin Trading services if explicitly authorised to do so by VARA and such authorisation is expressly stipulated in their Licence. |
| 2. |
VASPs that are authorised to provide Margin Trading services, must comply with this Part IV of this Exchange Services Rulebook at all times when providing Margin Trading services. |
| 3. |
Margin Trading services may only be offered or provided to Qualified Investors and Institutional Investors. |
| 4. |
VASPs must not offer or provide Margin Trading services to a Retail Investor. |
| 5. |
VASPs must at all times ensure that they have sufficient Virtual Assets to provide Margin Trading services and can satisfy client obligations.
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