Federal Register of Legislation - Australian Government

Primary content

Rules/Other as made
This instrument remakes the ASIC Market Integrity Rules (Securities Markets) Class Waiver 2018/258, ASIC Waiver 18/260 and ASIC Waiver 18/261, consolidates them into a single legislative instrument, and extends the operation of the relief granted under them to 17 November 2024.
Administered by: Treasury
Registered 15 Nov 2022
Tabling HistoryDate
Tabled HR21-Nov-2022
Tabled Senate21-Nov-2022
To be repealed 17 Nov 2024
Repealed by Self Repealing
Table of contents.

Commonwealth Coat of Arms and ASIC logo

I, Nathan Bourne, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date    14 November 2022

 

           

Nathan Bourne

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Market Integrity Rules (Securities Markets) NSXA and SSX Markets (Operators and Participants) Class Waiver 2022/881.

2        Commencement

This instrument commences on the later of:

(a)          the day this instrument is registered on the Federal Register of Legislation; and

(b)          17 November 2022.

Note: The Federal Register of Legislation 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.

Note: The ASIC Market Integrity Rules (Securities Markets) 2017 may be accessed on the Federal Register of Legislation at  www.legislation.gov.au.

 

4        Definitions

(1)     In this instrument:

NSXA means National Stock Exchange of Australia Limited (ACN 000 902 063).

NSXA Market means the financial market operated by NSXA under Australian Market Licence (National Stock Exchange of Australia Limited) 2002.

Relevant Market Operator means any of the following Market operators:

(a)          NSXA;

(b)          SSX.

Relevant Participant means a Participant in any of the following Markets:

(a)          NSXA Market;

(b)          SSX Market.

Securities Markets Rules means the ASIC Market Integrity Rules (Securities Markets) 2017.

SSX means Sydney Stock Exchange Limited (ACN 080 399 220).

SSX Market means the financial market operated by SSX under Australian Market Licence (Sydney Stock Exchange Limited) 2004.

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

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


Part 2—Waivers

5        Relevant Market Operators

A Relevant Market Operator does not have to comply with any provision of the following Chapters or Parts of the Securities Markets Rules:

(a)           Part 6.1 [Orders must be Pre-Trade Transparent];

(b)          Part 6.3 [Transactions must be post-trade transparent];

(c)           Part 7.4 [Requirement to record and provide Regulatory Data];

(d)          Chapter 8 [Extreme price movements];

(e)           Part 9.1 [Trading Suspensions];

(f)           Part 9.2 [Information Sharing];

(g)          Part 9.3 [Synchronised clocks];

(h)          Part 9.4 [Tick Sizes].

6        Relevant Participants

A Relevant Participant does not have to comply with any provision of the following Parts of the Securities Markets Rules in connection with its activities or conduct in relation to the NSXA Market or the SSX Market, as the case may be:

(a)           Part 3.8 [Best execution obligation];

(b)          Part 3.9 [Policies and procedures];

(c)           Part 3.10 [Disclosure of best execution obligation];

(d)          Part 3.11 [Evidencing execution performance];

(e)           Part 5.1AA [Transactions to be under the operating rules of a Market operator];

(f)           Part 5.9A [Trading Suspensions];

(g)          Part 6.1 [Orders must be Pre-Trade Transparent];

(h)          Part 6.3 [Transactions must be post-trade transparent];

(i)            Part 7.4 [Requirement to record and provide Regulatory Data].

Part 3—Repeal

7        Repeal

This instrument is repealed at the start of 17 November 2024.