AMAFI published a new version of its liquidity contract charter in early September (AMAFI / 24-48a). The document provides clarifications on operation of the liquidity account, position limits, disclosure of contracts to the AMF and the role of the compliance function.

AMAFI also released new versions of the liquidity contract template (AMAFI / 24-48b) and its accompanying explanatory note (AMAFI / 24-48c). This work was an opportunity to update legislative and regulatory references, to clarify the classification of various securities (illiquid, liquid and highly liquid) and the ban on trading beyond limits set by the AMF, and to add stipulations on initial public offerings and block trades. Clarification was also provided on procedures for takeover of securities.