Federal Register of Legislation - Australian Government

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Rules/Other as made
This instrument amends the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 to ensure warrants and exchange traded funds admitted to quotation on the new Chi-X Australia Pty Ltd investment product market are subject to an appropriate regulatory regime.
Administered by: Treasury
Made 19 Oct 2015
Registered 26 Oct 2015
Tabled HR 09 Nov 2015
Tabled Senate 09 Nov 2015
Date of repeal 28 Oct 2015
Repealed by Division 1 of Part 5A of the Legislative Instruments Act 2003
Table of contents.

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ASIC Market Integrity Rules (Competition in Exchange Markets) Amendment 2015 (No. 1)

I, Oliver Harvey, delegate of the Australian Securities and Investments Commission, with the written consent of the Minister, make the following legislative instrument.

 

Date    19 October  2015

 

Oliver Harvey

 



Part 1—Preliminary

1        Name of legislative instrument

This instrument is ASIC Market Integrity Rules (Competition in Exchange Markets) Amendment 2015 (No. 1).

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislative Instruments.

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

3        Authority

This instrument is made under subsection 798G(1) of the Corporations Act 2001.

4        Schedule

Schedule 1 amends the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011.


Schedule 1—Amendments

ASIC Market Integrity Rules (Competition in Exchange Markets) 2011

1        Rule 1.4.3, after definition of “CHESS Depository Interest”

Insert “Chi-X means Chi-X Australia Pty Ltd (ACN 129 584 667).

Chi-X Market means the Financial Market operated by Chi-X under Australian Market Licence (Chi-X Australia Pty Ltd) 2011.”

2        Rule 1.4.3, definition of “Equity Market Product”

After “ASX Market”, insert “or admitted to quotation on the Chi-X Market under the Chi-X Operating Rules”.

3        Rule 1.4.3, definition of “Exchange-Traded Fund Special Trade”

After “ASX”, insert “or Chi-X”.

4        Rule 1.4.3, definition of “Responsible Market Operator”, paragraph (a)

Omit the paragraph, substitute “(a) in relation to Equity Market Products admitted to quotation on the ASX Market, ASX;”

5        Rule 1.4.3, definition of “Responsible Market Operator”, paragraph (c)

After “;”, omit “and”.

6        Rule 1.4.3, definition of “Responsible Market Operator”, paragraph (d)

Omit “.”, substitute “; and”.

7        Rule 1.4.3, definition of “Responsible Market Operator”, after paragraph (d)

Insert “(e) in relation to Equity Market Products admitted to quotation on the Chi-X Market under the Chi-X Operating Rules, Chi-X.”

8        Subrule 2.2.2(4), paragraph (a)

After “Equity Market Products”, insert “admitted to quotation on the ASX Market”.

9        Subrule 2.2.2(4), paragraph (c)

After “;”, omit “or”.

10      Subrule 2.2.2(4), paragraph (ca)

Omit “,”, substitute “; or”.

11      Subrule 2.2.2(4), after paragraph (ca)

Insert “(cb) the central order book of  Chi-X (in the case of Equity Market Products admitted to quotation under the Chi-X Operating Rules),”

12      Rule 2.2.2 (Note)

Omit the note, substitute “Note: Under subrules 6.2.1(1) and (6), the relevant Responsible Market Operator for Equity Market Products must provide notifications under paragraph 2.2.2(2)(b) to other Market Operators through an electronic data feed, and need only make a notification in relation to a particular Equity Market Product to a Market Operator that has notified it will quote the Equity Market Product on its Market.”

13      Rule 2.2.2C (Note)

Omit the note, substitute “Note: Under subrules 6.2.1(1) and (6), the relevant Responsible Market Operator for Equity Market Products must provide notifications to other Market Operators under paragraph 2.2.2C(1)(d) and subrule 2.2.2C(4) through an electronic data feed, and need only make a notification in relation to a particular Equity Market Product to a Market Operator that has notified it will quote the Equity Market Product on its Market.”

14      Subrule 3.1.1(6)

Repeal the subrule.

15      Rule 4A.1.1, paragraph (a)

Omit “Financial Market operated by Chi-X Australia Pty Ltd (ACN 129 584 667) under Australian Market Licence (Chi-X Australia Pty Ltd) 2011”, substitute “Chi-X Market”.

16      Subrule 5A.1.1(2), paragraph (a)

After “;”, omit “and”.

17      Subrule 5A.1.1(2), paragraph (b)

Omit “.”, substitute “; and”.

18      Subrule 5A.1.1(2), after paragraph (b)

Insert “(c) Financial Products admitted to quotation on the Chi-X Market under the Operating Rules of Chi-X.”

19      Subrule 6.2.1(6)

Omit “ASX”, substitute “A Market Operator”.

20      Subrule 6.2.1(7)

Omit the subrule, substitute “(7) For the purposes of subrule (6), if a Market Operator intends to trade an Equity Market Product on its Market and that product was not admitted to quotation by that Market Operator, the Market Operator must notify other Market Operators of that intention.”

21      Subrule 6.2.3(1)

After “each Equity Market Product”, insert “admitted to quotation on the ASX Market”.

22      Rule 6.2.3, after subrule (1)

Insert “(1A) Chi-X must assign each Equity Market Product admitted to quotation under the Operating Rules of the Chi-X Market a unique symbol for the purposes of identifying that Equity Market Product in records of Orders, Transactions and other Trading Messages on its Market.”

23      Subrule 6.2.3(2)

After “each Equity Market Product”, insert “admitted to quotation on the ASX Market”.

24      Rule 6.2.3, after subrule (2)

Insert “(2A) A Market Operator other than Chi-X must, for each Equity Market Product admitted to quotation under the Operating Rules of the Chi-X Market that is quoted on its Market, assign the same unique symbol assigned by Chi-X under subrule (1A) to that Equity Market Product for the purposes of identifying that Equity Market Product in records of Orders, Transactions and other Trading Messages on its Market.”

25      Subrule 7.4.1(4)

Repeal the subrule.

26      Subrule 7.5.1(3)

Repeal the subrule.