1 The whole of the Instrument Omit “Chi-X” (wherever occurring except for in the definition of Pre- Commencement Market Integrity Rules in Rule 1.4.3), substitute “TMX”.2 Rule 1.1.4A Repeal the rule.3 Paragraph 1.1.8(1)(n)Omit “5.6.11(1)”, substitute “5.6.7(1)”.4 Rule 1.4.3 (the definition of AOP Annual Notification) Repeal the definition.5 Rule 1.4.3 (the definition of AOP Annual Review) Omit “AOP”.6 Rule 1.4.3 (the definition of AOP Annual Review) Omit “Rule 5.6.8A”, substitute “subrule 5.6.8A(1)”.7 Rule 1.4.3 (the definition of AOP Annual Review Date) Repeal the definition.8 Rule 1.4.3 (the definition of AOP Client) Repeal the definition.9 Rule 1.4.3 (the definition of AOP Initial Certification) Repeal the definition.10 Rule 1.4.3 (the definition of AOP Material Change) Repeal the definition.11 Rule 1.4.3 (the definition of Authorised Person) Omit “system”, substitute “Trading System”.12 Rule 1.4.3 (the definition of Automated Client Order Processing) Repeal the definition.13 Rule 1.4.3 (the definition of Automated Order Processing) Repeal the definition.14 Rule 1.4.3 (the definition of Automated Order Processing Requirements) Repeal the definition.15 Rule 1.4.3 (the definition of Chi-X Australia) Repeal the definition.16 Rule 1.4.3 (the definition of Chi-X Market)Repeal the definition.17 Rule 1.4.3 (the definition of Clearing Facility) Omit “761A”, substitute “768A”.18 Rule 1.4.3 (the definition of DTR) Repeal the definition.19 Rule 1.4.3 (the definition of DTR identifier) Repeal the definition.20 Rule 1.4.3 (after the definition of Immediate Family) Insert:Initial Certification has the meaning given by paragraph 5.6.6(1)(a).Initial Certification Review has the meaning given by subrule 5.6.4(1).21 Rule 1.4.3 (the definition of IR Plus Market) Repeal the definition.22 Rule 1.4.3 (the definition of Market)Omit “the IR Plus Market;”.23 Rule 1.4.3 (after the definition of Market Maker) Insert:Material Change has the meaning given by subrule 5.6.8(1).24 Rule 1.4.3 (the definition of NSXA AOP Participant) Repeal the definition.25 Rule 1.4.3 (the definition of Open Interface) Repeal the definition.26 Rule 1.4.3 (the definition of Open Interface Device) Repeal the definition.27 Rule 1.4.3 (paragraph (c) of the definition of Relevant Clearing Participant) Omit “which it has identified through the Open Interface Device in respect ofthe Market transaction”, substitute “clearing the relevant Market transaction for the Trading Participant under those arrangements”.28 Rule 1.4.3 (the definition of Representative) Omit “910A”, substitute “9”.29 Rule 1.4.3 (the definition of Settlement Facility) Omit “761A”, substitute “768A”.30 Rule 1.4.3 (after the definition of Time Priority)Insert:TMX means TMX Australia Exchange Pty Limited ACN 129 584 667.TMX Market means the financial market operated by TMX under Australian Market Licence (Chi-X Australia Pty Ltd) 2011.31 Rule 1.4.3 (the definition of Trader Workstation) Repeal the definition.32 Rule 1.4.3 (the definition of Trader Workstation Software) Repeal the definition.33 Rule 1.4.3 (after the definition of Trade with Price Improvement) Insert:Trading Algorithm means a computer algorithm which automatically determines with limited or no human intervention, one or more parameters of an Order such as whether to initiate an Order, the timing, price or quantity of the Order or how to manage the Order after its submission, but does not include systems or processes used only:(a) for the purpose of routing Orders to one or more Trading Platforms;(b) for the submission of Orders involving no determination of any Order parameters;(c) for producing confirmations of Orders; or(d) for post-trade processing of executed transactions.34 Rule 1.4.3 (after the definition of Trading Suspension) Insert:Trading System means a system that registers Trading Messages for submission into a Trading Platform.Trading System Requirements means the requirements of Part 5.6.35 Rule 1.4.3 (the definition of UTC(AUS))Omit “division of the Commonwealth Department of Innovation, Industry, Science and Research”, substitute “established under s17 of the National Measurement Act 1960”.36 Part 2.5 Repeal the Part.37 Subrule 4.1.1(1) After “receives”, insert “an”.38 Subrule 4.1.1(1) Omit “instructions”, substitute “instruction”.39 Subrule 4.1.1(1) After “(the Client),”, insert “including where the instruction is in relation to a Managed Discretionary Account,”.40 Subrule 4.1.1(1)Omit “those instructions”, substitute “that instruction”.41 Subrule 4.1.1(2) After “showing”, insert “the following”.42 Paragraph 4.1.1(2)(a)Omit “instructions”, substitute “instruction”.43 Subparagraph 4.1.1(2)(a)(iii)Omit “instructions”, substitute “aspect of the instruction”.44 Subparagraph 4.1.1(2)(a)(iv)Omit “instructions;”, substitute “instruction; and”.45 Subparagraph 4.1.1(2)(a)(v)Repeal the subparagraph.46 Subparagraph 4.1.1(2)(a)(vi)Repeal the subparagraph.47 Paragraphs 4.1.1(2)(b) to (j)Repeal the paragraphs, substitute:(b) the name of the Client and, if the Client did not give the instruction, the name of the person who gave the instruction;(c) if applicable, the name and capacity of any Representative of the Market Participant who was nominated by the Market Participant as being responsible for the instruction (unless paragraph 4.1.1(2)(d) applies);(d) if applicable, the name capacity of any Representative of the Market Participant who:(i) received the instruction;(ii) entered the instruction into a Trading System;(iii) submitted a Trading Message relating to the instruction into a Trading Platform; and(iv) otherwise acted on the instruction.(e) any amendment of any kind to the instruction or any resulting Trading Message (including, without limitation, cancellation of the instruction or Trading Message, variation of the number of financial products to be bought or sold or variation of any price or time related aspect of the instruction or Trading Message);(f) if the instruction gives rise to a Trading Message, the Trading Message that corresponds to that instruction;(g) if the Trading Message referred to in paragraph 4.1.1(2)(f) gives rise to a Market transaction:(i) the Market on which that Market transaction occurred; and(ii) the Market transaction that corresponds to that Trading Message;(h) if applicable, the Derivatives Market Contracts arising from the instruction that are nominated for accumulation and price averaging under the Clearing Rules; and(i) the date and time at which each stage of processing of the instruction and any resulting Trading Message occurred, including but not limited to:(i) the giving of the instruction;(ii) the receiving of the instruction;(iii) the entering of the instruction into a Trading System;(iv) the submitting of a Trading Message relating to the instruction into a Trading Platform;(v) the amendment of the instruction or Trading Message; and(vi) the Market transaction resulting from a Trading Message.48 Subrule 4.1.2(1)After “gives”, insert “an”.49 Subrule 4.1.2(1)Omit “instructions”, substitute “an instruction”.50 Paragraph 4.1.2(2)(a) to (f) Repeal the paragraphs, substitute:(a) particulars of the decision or instruction, including, without limitation:(i) the financial products to be bought or sold;(ii) the number thereof;(iii) any price or time related aspect of the instruction or decision; and(iv) any time limit on the instruction or decision.(b) if applicable, the name and capacity of any Representative of the Market Participant who:(i) generated the instruction or made the decision;(ii) entered the instruction into a Trading System; and(iii) submitted a Trading Message relating to the instruction or decision into a Trading Platform;(c) any amendment of any kind to the instruction or decision or resulting Trading Message (including, without limitation, cancellation of the instruction, decision or Trading Message, variation of the number of financial products to be bought or sold or variation of any price or time related aspects of the instruction or decision);(d) if the instruction or decision gives rise to a Trading Message, the Trading Message that corresponds to that instruction or decision;(e) if the Trading Message referred to in paragraph 4.1.2(2)(d) gives rise to a Market transaction:(i) the Market on which that Market transaction occurred; and(ii) the Market transaction that corresponds to that Trading Message; and(f) the date and time at which each stage of processing of the instruction or decision and any resulting Trading Message occurred, including but not limited to:(i) the giving of the instruction or making of the decision;(ii) the entering of the instruction into a Trading System;(iii) the submitting of a Trading Message relating to the instruction or decision into a Trading Platform;(iv) the amendment of the instruction, decision or Trading Message; and(v) the Market transaction resulting from the Trading Message.51 Rule 4.1.3Omit “and record the time of the relevant event”.52 Subrule 4.1.6(1)Repeal the subrule.53 Subrule 4.1.6(2)Omit “(2) For the purposes of subrule (1), the”, substitute “The”.54 Rule 4.1.6 (table) Repeal the table, substitute:Column 1: A Market Participant may satisfy the obligation: | Column 2:by relying on records maintained by a Market operator in the following circumstances:under paragraph 4.1.1(2)(i) to maintain records of the date and time a Trading Message was entered into a Trading Platform | where the Trading Platform of the relevant Market records the time the Trading Message was entered into the Trading Platformunder paragraph 4.1.1(2)(i) to maintain records of the date and time that a Market transaction resulted from a Trading Message | where the Trading Platform of the relevant Market records the date and time of effecting of the Market transactionunder subparagraph 4.1.2(2)(a)(i) to maintain records of the financial products to be bought or sold | where the financial products are entered into the Trading Platform of the relevant Market for the particular Trading Message (which are taken to be the financial products decided or instructed to be bought or sold)under subparagraph 4.1.2(2)(a)(ii) to maintain records of the number of financial products to be bought or sold | where the number of financial products is entered into the Trading Platform of the relevant Market for the particular Trading Message (which is taken to be the number of financial products decided or instructed to be bought or sold)under subparagraph 4.1.2(2)(a)(iii) to maintain records of price-related aspects of the instruction or decision to enter into a Market transaction | where the price is entered into the Trading Platform of the relevant Market for the particular Trading Message (which is taken to be the price at which the financial products are decided or instructed to be bought or sold)under paragraph 4.1.2(2)(c) to maintain records of an amendment to a Trading Message | where the particulars of the Trading Message are entered into the Trading Platform of the relevant Marketunder paragraph 4.1.2(2)(f)(iii) to maintain records of the date and time a Trading Message was entered into a Trading Platform | where the Trading Platform of the relevant Market records the time the Trading Message was entered into the Trading Platformunder paragraph 4.1.2(2)(f)(v) to maintain records of the date and time that a Market transaction resulted from a Trading Message | where the Trading Platform of the relevant Market records the time of effecting of the Market transaction55 Paragraph 4.1.7(a) Omit “4.1.1(2)(e), (f), (g), (h), (i) and (j)”, substitute “4.1.1(2)(c), (d), (e), (f) and (g) and subparagraphs (i)(iv)-(vi)”.56 Paragraph 4.1.7(b) Repeal the paragraph, substitute:(b) must maintain sufficiently detailed records in respect of that instruction showing:(i) if applicable, the name and capacity of any Representative of the Market Participant who acted on the instruction and, if applicable, any Representative of the Market Participant who:(A) received the instruction; and(B) passed on the instruction to the other Trading Participant; and(ii) the time the instruction was passed on to the other Trading Participant.57 Paragraph 4.1.8(a) Omit “4.1.2(2)(c), (d), (e) and (f)”, substitute “4.1.2(2)(b), (d) and (e) and subparagraphs (f)(iii)–(v)”.58 Paragraph 4.1.8(b) Repeal the paragraph, substitute:(b) must maintain sufficiently detailed records in respect of that instruction showing:(i) if applicable, the name and capacity of any Representative of the Market Participant who acted on the instruction;(ii) if applicable, any Representative of the Market Participant who:(A) made the decision to instruct the other Trading Participant; and(B) instructed the other Trading Participant;(iii) the name of the other Trading Participant instructed to enter into the Market transaction; and(iv) the time the other Trading Participant was instructed to enter into the Market transaction.59 Paragraph 4.1.9(b) Omit “computer or other device connected to the Trading Participant’s Open Interface Device and its location or if not fixed, the method of identifying the computer or other device”, substitute “Trading System”.60 Rule 5.1.8 (heading) Omit “Automated Client Order Processing”.61 Part 5.5 of Chapter 5 (heading) Omit “infrastructure”, substitute “management arrangements”.62 Rule 5.5.1 Repeal the rule, substitute:
(1) A Market Participant must not, as Principal, make a Bid or Offer for, or deal in, any financial product:(a) with the intention; or(b) if that Bid, Offer or dealing has the effect, or is likely to have the effect;of creating a false or misleading appearance:(c) of active trading in any financial product; or(d) with respect to the market for, or the price of, any financial product.(2) A Market Participant must not make a Bid or Offer for, or deal in, any financial product on account of any other person where:(a) the Market Participant intends to create; or(b) the Market Participant is aware that the person (or if the person is acting on behalf of another person, that other person) intends to create; or(c) the Market Participant ought reasonably suspect that:(i) taking into account the matters specified in Rule 5.7.2, the person (or if the person is acting on behalf of another person, that other person) has placed the Order with the intention of creating; or(ii) taking into account the matters specified in Rule 5.7.2, the Order placed will have the effect of creating;a false or misleading appearance:(d) of active trading in any financial product; or(e) with respect to the market for, or the price of, any financial product.94 Rule 5.7.2 Omit “In considering the circumstances of the Order, a Market Participant must have regard to the following matters:”, substitute “The following matters concerning the circumstances of the Order to which the Bid, Offer or dealing relates, are specified for the purposes of paragraph 5.7.1(2)(c):”95 Paragraphs 5.7.2(a), (b) and (c)Omit “of the Order”, substitute “of that Order”.96 Paragraph 5.7.2(d)Omit “whether the person on whose behalf the Order is placed, or another person who the Market Participant knows to be a Related Party of that person,”, substitute “whether a person mentioned in paragraph 5.7.1(2)(c) on whose behalf the Order is placed, or another person who the Market Participant knows to be a Related Party of that person mentioned in paragraph 5.7.1(2)(c),”.97 Paragraph 5.7.2(g)Omit “that person”, substitute “a person mentioned in paragraph 5.7.1(2)(c)”.98 Paragraph 5.7.2(g)After “appearance of active trading in”, insert “any financial product”.99 Paragraph 5.7.2(i)After “placed by a person”, insert “mentioned in paragraph 5.7.1(2)(c)”.100 Paragraph 5.7.2(j)Omit “person; and”, substitute “person mentioned in paragraph 5.7.1(2)(c);”.101 Paragraph 5.7.2(k) After “the extent to which a person”, insert “mentioned in paragraph 5.7.1(2)(c)”.102 Paragraph 5.7.2(k) Omit “that person.”, substitute “that person; and”.103 After paragraph 5.7.2(k) Insert:(l) any other relevant matter.104 Rule 5.7.3 Repeal the rule.105 Subrule 5A.5.2(3)Omit “Rule 5.6.1 and 5.6.3”, substitute “Rule 5.6.3”.106 Subrule 5A.5.2(3) (note) Omit “Rule 5.6.1 and 5.6.3 require”, substitute “Rule 5.6.3 requires”.107 Subrule 5A.5.2(3) (note)Omit “automated filters and controls”, substitute “Trading System controls and arrangements”.108 Subrule 7.4.4(5) (cell at table item 4, column headed “Regulatory Data”, paragraph (a))Omit “an AOP client”, substitute “a client”.109 Subrule 7.4.4(5) (cell at table item 5, column headed “Regulatory Data”, paragraph (a)) Omit “an AOP client”, substitute “a client”.
Sourced from the Federal Register of Legislation at legislation.gov.au, © Commonwealth of Australia, licensed under CC BY 4.0. Compilations may have been reformatted.