ASIC Market Integrity Rules (Securities Markets) Class Waiver 2018/303

I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 26 April 2018

Anthony Graham

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Interpretation

Part 2—Waiver

5 Waiver from requirements of Rule 3.4.1

6 Conditions

7 Period during which the relief applies

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Market Integrity Rules (Securities Markets) Class Waiver 2018/303.

2 Commencement

This instrument commences on the day after this instrument is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under subrule 1.2.1(1) and Rule 1.2.3 of the ASIC Market Integrity Rules (Securities Markets) 2017 (Rules). 

4 Interpretation

(1) In this instrument, unless the contrary intention appears, capitalised terms have the same meaning as in the Rules.

(2) In this instrument a reference to time is to the time in Sydney, Australia.

Part 2—Waiver

5 Waiver from requirements of Rule 3.4.1

A Market Participant does not have to comply with Rule 3.4.1 of the Rules in respect of a Client and a Market transaction if.

(a) the Client is not a retail client; and

(b) the Market transaction is in respect of a financial product which is a Derivatives Market Contract; and

(c) the Market Participant has notified the Client before entering a Trading Message on the Client’s behalf that Market transactions effected for the client are subject to:

(i) the directions, decisions and requirements of the Market operator, the ASIC Market Integrity Rules (Securities Markets) 2017, the operating rules of the Market, the Clearing Rules and where relevant, the Settlement Rules; and

(ii) the customs and usages of the Market; and

(iii) the correction of errors and omissions.

6 Conditions

A Market Participant must keep a record of the notification referred to in paragraph 5(c).

Note:  The conditions imposed on a waiver must be complied with in order for the waiver to be effective: subrule 1.2.1(2) of the Rules.

7 Period during which the relief applies

The relief in section 5 applies until the end of 30 June 2020.