N.J. Admin. Code § 13:74C-5.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:74C-5.3 - Procedure in the event of a minor technological breakdown of the exchange wagering system, not requiring the suspension or voiding of the market

(a) In the event of a minor technological breakdown associated with the exchange wagering system, which renders the exchange wagering system non-functional, and where the exchange wagering licensee determines that the nature and degree of the minor technological breakdown does not require a suspension or voiding of the market as authorized pursuant to N.J.A.C. 13:74C-5.4, the exchange wagering licensee shall:

1. Cause all matched wagers, as of the time of the failure, to remain matched, and to be paid in accordance with the established price for such wagers and the internal control procedures of the exchange wagering licensee applicable to matched wagers; and

2. Cause all unmatched wagers to be cancelled.

(b) In the event the exchange wagering licensee acts pursuant to this section, it shall promptly file with the Commission Supervisor of Mutuels a written report detailing the action taken and the reasons in support of such action.

N.J. Admin. Code § 13:74C-5.3

Adopted by 47 N.J.R. 807(b), effective 4/20/2015.

Adopted by56 N.J.R. 413(a), effective 3/18/2024