ASIC Market Integrity Rules (Competition in Exchange Markets) 2011

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ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 Chapter 6: Market Operators—Other obligations Operator must take reasonable steps to ensure that person synchronises the clock used for that purpose to within 20 milliseconds of the UTC(AUS) maintained by the NMI. Maximum penalty: $1,000,000 6.3.2 Market Operator to have arrangements for compliance (1) A Market Operator must have in place adequate arrangements to ensure it complies with Rule 6.3.1, including arrangements for: (a) regularly monitoring the clock it uses for recording the time and date in its trading, compliance monitoring and reporting systems to ensure it remains synchronised; and (b) when required, re-setting the clock it uses for recording the time and date in its trading, compliance monitoring and reporting systems. (2) Where a Market Operator relies on another person to provide any aspect of their trading, compliance monitoring and reporting systems, the Market Operator must take reasonable steps to ensure that person has in place arrangements referred to in subrule (1). Maximum penalty: $100,000 Part 6.4 Tick Sizes 6.4.1 Market Operators to use standard Tick Sizes (1) Subject to subrule (2), a Market Operator must not accept, display or queue Orders in an Order Book in Tick Sizes less than: (a) $0.01 for an Equity Market Product priced at equal to or greater than $2.00; (b) $0.005 for an Equity Market Product priced at equal to or greater than $0.10 and less than $2.00; and (c) $0.001 for an Equity Market Product priced at less than $0.10. (2) Subrule (1) does not apply to an Order that, if executed, would result in a Block Trade, Large Portfolio Trade or, in the context of Rule 4.2.3, a Transaction at the Reference Mid- Point or at the Best Mid-Point. Maximum penalty: $1,000,000 Page 42
ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 Chapter 6: Market Operators—Other obligations Part 6.5 Material changes to Operating Rule procedures 6.5.1 Market Operator to notify material changes to Operating Rule Procedures (1) Subject to subrule (2), a Market Operator must notify ASIC of a material change to the written procedures made under its Operating Rules, within a reasonable time before adopting the change. (2) Where a Market Operator is required to make an urgent material change to the written procedures made under its Operating Rules, the Market Operator must notify ASIC of the change as soon as practicable after making the change. Maximum penalty: $100,000 Page 43
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ASIC Market Integrity Rules (Competition in Exchange Markets) 2011

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