Becoming a Participant

Eligibility Criteria

Each Trading Venue is required to have fair, clear and non-discriminatory eligibility criteria stipulating the requirements for membership. All applications to become a participant on the Dowgate MTF will be considered by making reference to the Eligibility Criteria set out in our Rulebook. If you are interested in applying, please download and complete the Dowgate MTF onboarding and activation form and return it to compliance.

Personal information submission

As a trading venue, Dowgate MTF is required to keep certain records of the activity undertaken on the MTF. This will require us to obtain information from you, including the personal information (PI) of the traders authorised to trade on the system. For more information about how to upload PI to us, please read our PI submission guide.

Settlement Counterparty

As the operator of an MTF, Dowgate is not able to act as a principal in relation to trades on its own venue. However, recognising that, where counterparties trade in larger size, there is still a desire in the market for anonymity. To cater for this, we have arranged for a group entity, PhillipCapital UK Ltd, to be inserted as the settlement counterparty for each bond trade in accordance with the 'non-disclosed' settlement rules set out in our Rulebook.

All transactions in derivative instruments will be settled in accordance with the disclosed settlement rules.

For more information, please see our settlement policy.

Key Documentation

Fees

All trading venues are required to publish objective criteria for the establishment of their fees and fee structures and to make this information and the fees themselves publicly accessible on their website.

For information on the objective criteria that the Dowgate MTF uses to establish our fees and fee structures, please see our charges policy here: [link]

For our fees, please refer to the rate card for the relevant areas: