ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis

LexisNexis ASIC Market Integrity Rules (ASX Market) 20105.1.8 Allocation policy and Automated Client Order Processing Crossings—disclosure to Client(1) A Market Participant must when requested to do so by a person (the “Client”), discloseto the Client each of the following:(a)(b)the policy it adopts in the allocation of Market Transactions to fill orders placed with it;andin relation to Crossings under the Market Operating Rules:(i)(ii)that the Client’s orders may match opposite orders in a Trading Platform by thesame Market Participant, effectively resulting in a Crossing and entitling theMarket Participant to commission from both sides of the transaction; andif the Market Participant deals as Principal, that the Client’s orders may matchopposite orders in a Trading Platform on behalf of the same Market Participant asPrincipal.(2) The Market Participant must keep a record of disclosures made under subrule (1).Maximum penalty: $20,000Part 5.2 Business connections between Market Participants5.2.1 Connections requiring ASIC consentA Market Participant must not, without the prior written consent of ASIC:(a)(b)(c)(d)(e)be a Related Body Corporate of another Market Participant;allow a Controller or Employee to be a Controller of another Market Participant;have an Employee who is an Employee of another Market Participant or a Related BodyCorporate of another Market Participant;share common computer facilities with, or allow its computer facilities to be linkedwith, another Market Participant; orshare common premises with, or allow its premises to be accessed by another MarketParticipant or its Employees.Maximum penalty: $100,0005.2.2 Access to recordsWithout limiting ASIC’s discretion under Rule 5.2.1, when giving any consent under Rule 5.2.1,ASIC may impose on one or both of the Market Participants involved conditions concerning accessby common Controllers or Employees to records of those Market Participants including, withoutlimitation, the records of orders received by the Market Participants.Note: There is no penalty for this Rule.Copyright Australian Securities and Investments Commission. Reproduced with permission.