​a. The Board of Directors of the Exchange shall propose the necessary regulations, rules and instructions for the operation of the Exchange including the following matters:

1. Conditions for the listing of and the trading in Securities.
2. The minimum capital required for brokerage companies and the financial assurances required from such companies or their employees.
3. The immediate and timely publication of information regarding transactions executed in Securities traded on the Exchange, and the obligations of issuers of Securities, shareholders and members to disclose such information to the Exchange as the Exchange deems necessary.
4. Standards of professional conduct applicable to the Exchange’s members and their employees, the members of the board of directors, the Exchange’s executive manager and employees, including the procedures and disciplinary sanctions applicable against those who violate such standards or any other conditions or requirements set forth in the regulations and instructions.
5. Settling disputes among members of the Exchange and between the members and their clients.
6. Conditions and requirements for membership of the Exchange and the appropriate limitations and procedures that permit licensed brokerage companies but not members of the Exchange to execute their transactions on the Exchange.
7. The determination of the fees and commissions that brokers charge for their services.
8. Any other rules and instructions that the Exchange deems necessary for the protection of investors through ensuring fairness, efficiency and transparency in all of the Exchange’s related affairs.

b. The Exchange shall submit to the Authority the regulations, rules and instructions for the operation of the Exchange and the amendments thereof for approval by the Board.