ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis

LexisNexis ASIC Market Integrity Rules (ASX Market) 2010“Deposits with an ASX Market Participant” means the total amount of third-party clientfunds paid to another Market Participant.“Deposits with an Australian Securities Exchange Participant” means the total amount ofthird-party client funds paid to a participant of Australian Securities Exchange in relation totransactions in futures contracts.“Deposits with an Overseas Broker” means the total amount of third-party client fundslodged with an Overseas Broker in relation to transactions in futures contracts.“Director/Employee Monies” means the total amount of money received from:(a) any director, or officer, of the Market Participant; and(b) any employee of the Market Participant;in respect of transactions in futures contracts dealt on any exchange.“Total Deposits” means the sum of subparagraphs (2)(c)(i) to (c)(ix).“Total Futures Client Monies” means the total amount of money received from Clients inrespect of transactions in futures contracts, including amounts relating to futures contractstraded on any exchange.“Total Third Party Client Monies” means:Total Futures Client Monies less (Associated/Related Company Monies plusDirector/Employee Monies)“Variation” means:Total Third Party Client Monies less Total Deposits(4) The reconciliation must contain a statement signed by a Responsible Executive or aperson authorised in writing by a Responsible Executive, stating that the signatory believes,and has no reason not to believe, that the reconciliation is accurate in all respects.Maximum penalty: $1,000,0003.5.9 Reconciliation of trust accounts(1) A Market Participant must perform a reconciliation of:(a)(b)that:the aggregate balance held by it at the close of business on each Business Day inclients’ trust accounts maintained pursuant to Rule 3.5.1 or 3.5.2 and the correspondingbalance as recorded in the Market Participant’s accounting records; andthe balance held by it at the close of business on the last Business Day of each week ontrust for each person on whose behalf money is held in a trust account maintainedpursuant to Rule 3.5.1 or 3.5.2 and the corresponding balance as recorded in the MarketParticipant’s accounting records,Copyright Australian Securities and Investments Commission. Reproduced with permission.