ASIC Market Integrity Rules (Securities Markets) Class Waiver 2018/311
I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.
Anthony Graham
ASIC Market Integrity Rules (Securities Markets) Class Waiver 2018/311
I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.
Anthony Graham
1 Name of legislative instrument
This is the ASIC Market Integrity Rules (Securities Markets) Class Waiver 2018/311.
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.
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).
In this instrument, unless the contrary intention appears, capitalised terms have the same meaning as in the Rules.
5 Waivers from subrule 6.1.1(1)
(1) A Participant of the ASX Market does not have to comply with subrule 6.1.1(1) of the Rules in the case where the Participant enters into a transaction:
(a) as an “ETF Special Trade” in accordance with rule [3310] of the operating rules of the ASX Market as in force at the date of this instrument (ASX Operating Rules); or
(b) as a “Crossing of a Derivative/Cash Combination” in accordance with rule [4060] of the ASX Operating Rules; or
(c) as a result of a “Derived Order”, within the meaning of the ASX Operating Rules, relating to a component leg of a Derivative/Cash Combination or a Cash Only Combination that is traded as a Tailor-Made Combination in accordance with rule [4111] of the ASX Operating Rules and Procedure 4111 of the procedures to the ASX Operating Rules; or
(d) as part of a “contingent equity transaction” in accordance with Procedure 3002 of the procedures to the ASX Operating Rules.
(2) A Participant of the Chi-X Market does not have to comply with subrule 6.1.1(1) of the Rules in the case where the Participant enters into a transaction as an “Exchange-Traded Fund Special Trade” in accordance with rule 14.36 of the operating rules of the Chi-X Market as in force at the date of this instrument.
(3) A Market Participant does not have to comply with subrule 6.1.1(1) of the Rules in the case where the Market Participant enters into a transaction in an Equity Market Product or CGS Depository Interest other than by matching of Orders on an Order Book and that transaction would be a Trade With Price Improvement if Orders on the Order Book maintained by or on behalf of ASX and known as “PureMatch” were disregarded in calculating the Best Available Bid, Best Available Offer or Best Mid-Point (as applicable).
The relief in paragraph 5(1)(d) applies until 4 May 2020.