Australian Securities and Investments Commission Class Rule Waiver [CW 14-0322] (Cth)

Australian Securities and Investments Commission

ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 –

Subrule 1.2.1(1) - Class Rule Waiver - Variation

Enabling provision

1. 1.

   The Australian Securities and Investments Commission (ASIC) makes this instrument under subrule 1.2.1(1) of the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 (the Competition Rules).

Title

1. 2.

   This instrument is ASIC Class Rule Waiver [CW 14-0322].

Commencement

1. 3.

   This instrument commences on the date it is registered under the Legislative Instruments Act 2003.

   Note: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, section 4 (definition of register). The FRLI may be accessed at Class Rule Waiver [CW 13/680] is varied as follows

   1. a)

      after paragraph 7, insert:

      7A. ASIC relieves a Participant from the obligation to comply with Rule 4.1.1(1) of the Competition Rules, in the case where a Participant enters into a Transaction in an Equity Market Product as a result of a Derived Order.

   2. b)

      in paragraph 8:

      1. (i)

         after the definition of ASX Operating Rules Procedures, insert:

      ASX Trade means the equities trading platform operated by ASX.

      1. (ii)

         after the definition of Best Mid-Point, insert

      Cash Only Combination means a Cash Only Combination within the meaning of ASX Operating Rule [7100].

      1. (iii)

         after the definition of Chi-X Operating Rules, insert:

      Derivative/Cash Combination means a Derivatives/Cash Combination within the meaning of ASX Operating Rule [7100].

      Derived Order means an Order generated by ASX Trade for a component leg of a Derivative/Cash Combination or Cash Only Combination traded as a Tailor Made Combination Order, whenever the best price and quantity available on the opposite side of the remaining legs is sufficient to satisfy the Tailor Made Combination Order.

      1. (iv)

         after the definition of Relevant Products, insert:

      Tailor Made Combination Order means a Tailor Made Combination within the meaning of ASX Operating Rule [7100], entered into in accordance with Procedure 4111 of the ASX Operating Rules Procedures.

   Dated this 17 day of April 2014

   Signed by Oliver Harvey

   As a delegate of the Australian Securities and Investments Commission