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Rules/Other as amended, taking into account amendments up to ASIC Market Integrity Rules (Futures Markets) Class Waiver Amendment Instrument 2020/229
Administered by: Treasury
Registered 20 Mar 2020
Start Date 20 Mar 2020
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ASIC Market Integrity Rules (Futures Markets) Class Waiver 2018/313

 

About this compilation

 

Compilation No. 1

 

This is a compilation of ASIC Market Integrity Rules (Futures Markets) Class Waiver 2018/313 as in force on 20 March 2020. It includes any commenced amendment affecting the legislative instrument to that date.

 

This compilation was prepared by the Australian Securities and Investments Commission.

 

The notes at the end of this compilation (the endnotes) include information

about amending instruments and the amendment history of each amended provision.

 

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Market Integrity Rules (Futures Markets) Class Waiver 2018/313.

3        Authority

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

4        Interpretation

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


Part 2—Waiver

5        Waiver from aggregate loss limit requirements

(1)     A Market Participant does not have to comply with paragraph 2.2.1(1)(a) of the Rules to the extent that paragraph requires the Market Participant to set and document an appropriate pre-determined aggregate loss limit on each of its Client Accounts.

Note:    This waiver does not affect a Market Participant's other obligations in paragraph 2.2.1(1)(a) of the Rules, to set and document appropriate pre-determined Order and/or position limits including a volume per Order limit and an aggregate net session limit for each of its Client Accounts.

(2)     A Market Participant does not have to comply with paragraph 2.2.1(1)(ab) of the Rules to the extent that paragraph requires the Market Participant to set and document an appropriate pre-determined aggregate loss limit on each of its House Accounts.

Note:    This waiver does not affect a Market Participant's other obligations in paragraph 2.2.1(1)(ab) of the Rules, to set and document appropriate pre-determined Order and/or position limits including a volume per Order limit and an aggregate net session limit for each of its House Accounts.

(3)     A Market Participant does not have to comply with paragraph 2.2.1(1)(c) of the Rules to the extent that paragraph requires a Market Participant’s risk manager to input the aggregate loss limits set and determined by the Market Participant in accordance with paragraphs 2.2.1(1)(a) and 2.2.1(1)(ab) of the Rules into Trading Platform account maintenance and to establish those aggregate loss limits as preset accounts.

Note:    This waiver does not affect the obligation in paragraph 2.2.1(1)(c) of the Rules to input pre-determined Order and/or position limits including a volume per Order limit and an aggregate net session limit into Trading Platform account maintenance and to establish those limits as preset accounts.

6        Conditions

(1)     It is a condition of the waiver in subsection 5(1) that a Market Participant implements appropriate processes to monitor the aggregate loss limit on each of its Client Accounts.

(2)     It is a condition of the waiver in subsection 5(2) that a Market Participant implements appropriate processes to monitor the aggregate loss limit on each of its House Accounts.

 

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        Expiry

The waivers in section 5 of this instrument cease to apply at the end of 18 March 2022.


Endnotes

Endnote 1—Instrument history

Instrument number

Date of FRL registration

Date of commencement

Application, saving or transitional provisions

2018/313

1/05/2018 (see F2018L00551)

7/05/2018

 

2020/229

19/03/2020 (see F2020L00269)

20/03/2020

-

Endnote 2—Amendment history

ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted

Provision affected 

How affected

Section 2

rep. s48D LA

Section 7

am. 2020/229