Register of waivers granted under ASIC market integrity rules

ASIC is able to grant waivers from the obligation to comply with a provision of the market integrity rules and ASIC may publish a notice of a waiver on our website. Notice of waivers granted by ASIC under each rule book is set out below.

Important notice: Applications for a waiver from the market integrity rules should be submitted through the ASIC Regulatory Portal. For more information, see how you apply for relief.

Date of instrument	Instrument No	Entity	Effect of waiver
20/04/2018	2018/258	Class waiver	Expired 16 November 2022. Relief now provided by ASIC Market Integrity Rules (Securities Markets) NSXA and SSX Markets (Operators and Participants) Class Waiver 2022/881.
20/04/2018	18/260	National Stock Exchange of Australia Limited	Expired 16 November 2022. Relief now provided by ASIC Market Integrity Rules (Securities Markets) NSXA and SSX Markets (Operators and Participants) Class Waiver 2022/881.
20/04/2018	18/261	Sydney Stock Exchange Limited	Expired 16 November 2022. Relief now provided by ASIC Market Integrity Rules (Securities Markets) NSXA and SSX Markets (Operators and Participants) Class Waiver 2022/881.
23/04/2018	18/263	Liquidnet Australia Pty Ltd	This waiver was withdrawn on 11 April 2023 by ASIC Waiver 23/244.
23/04/2018	2018/266	Class waiver	The waiver relieves a Market Participant from the obligation to comply with paragraph 5A.2.2(1)(a) and subrule 5A.2.2(2). The relief applies with respect to a client whose orders are not matched or executed in the Crossing System operated by the Market Participant.
24/04/2018	2018/269	Class waiver	The waiver relieves a Participant of the ASX Market from complying with pre-trade transparency obligations in subrule 6.1.1(1) where the Participant enters into a transaction by matching an Auction Imbalance Order on the ASX Market.
23/04/2018	18/290	ASX Limited	The waiver relieves ASX Limited from the obligation to comply with Rule 8.1.3 in the case of an Order to enter into a Combination.
23/04/2018	18/291	ASX Limited	The waiver relieves ASX Limited from the obligation to comply with subrule 6.1.2(1) in relation to any of the following: (a) an Order that, if executed, would result in a transaction in relation to an Equity Market Product that is a Crossing of a Derivative/Cash Combination; (b) an Auction Imbalance Order.
23/04/2018	18/292	ASX Limited	The waiver relieves ASX Limited from the obligation to comply with: (i) Rule 8.1.3 in relation to an Anomalous Order that is a Tailor-Made Combination order and that is not a Derived Order. (ii) subrule 6.1.2(1) in relation to an Order that is a Derived Order that results from a Derivative/Cash Combination or Cash Only Combination traded as a Tailor-Made Combination. (iii) paragraph 8.3.1(2)(a) in relation to a transaction in an Equity Market Product that results from a Derivative/Cash Combination or Cash Only Combination traded as a Tailor-Made Combination. This relief is subject to a condition that ASX must have a prescribed policy in relation to re-pricing and cancelation of transactions with the Extreme Trade Range.
23/04/2018	18/293	ASX Limited	The waiver conditionally relieves ASX Limited from the obligation to comply with subrule 6.3.6(1) in relation to making available Trading Information as prescribed in the table in subrule 6.3.6(2).
24/0402018	18/296	Sydney Stock Exchange Limited	The waiver relieves Sydney Stock Exchange Limited (SSX) from the obligation to comply with subrules 7.1.1(1) and (1A), on the condition that SSX delivers to ASIC after each Trading Day an electronic file containing prescribed trading data generated by SSX’ Trading Platform.
26/04/2018	2018/298	Class waiver	The waiver relieves Market Participants, in certain circumstances, from the obligation under subrule 3.5.8(1) to perform daily Client Segregated Account reconciliations by 7.00 pm on the next Trading Day. The relief from subrule 3.5.8(1) applies in the case where a Market Participant is ordinarily unable to perform the reconciliation referred to in subrule 3.5.8(1) by 7.00 pm on the next Trading Day, because the Market Participant relies on information from a person outside Australia to perform this reconciliation. The waiver also relieves Market Participants from the obligation under paragraph 3.5.10(a) to notify ASIC, in writing, within two Business Days, if the reconciliation has not been performed by 7.00 pm on the next Trading Day.
27/04/2018	18/300	BNP Paribas Securities Services	This waiver is no longer in force as BNP Paribas Securities Services has ceased to exist. See entry for ASIC Market Integrity Rules (Securities Markets) BNP Paribas SA Waiver 2022/811 below about the successor entity.
26/4/2018	2018/303	Class waiver	The waiver provides relief until 30 June 2020 from Market Participants’ obligation under Rule 3.4.1 to provide a confirmation (or alternative notifications under paragraph 3.4.3(1)(b), if applicable) to a wholesale client for a Market transaction in a Derivatives Market Contract. The waiver is amended by the ASIC Market Integrity Rules (Securities Markets) Class Waiver (Amendment) Instrument 2022/25 to extend its operation until 30 November 2023.
26/04/2018	2018/304	Class Waiver	The waiver relieves Market Participants from providing certain information to ASIC in a ‘Crossing System Initial Report’ (Rule 5A.1.1) and available free of charge on a publicly accessible website (Rule 5A.2.1) where a Market Participant receives Orders via another person (an Aggregator), and it is not possible to disclose information about the other Crossing Systems and Market Participants that operate Crossing Systems that transmit Orders to the Aggregator. Under the conditions of the relief, the Market Participant must instead disclose the full legal name of the Aggregator and the code that uniquely identifies any Crossing System operated by the Aggregator.
30/04/2018	18/308	Credit Suisse Equities (Australia) Limited	The waiver provides that Credit Suisse Equities (Australia) Ltd (CSEAL) does not have to comply with Rule 5.14.1 where CSEAL acts for a company involved in a buy-back under Chapter 2J of the Corporations Act 2001 and accepts or transacts an order, placed with CSEAL by a direct market access client, to sell shares in the company. The relief is subject to conditions requiring alternative form of communication to direct market access clients.
30/04/2018	2018/310	Class waiver	The waiver provides that a Participant of the Chi-X Market does not have to comply with subrule 6.1.1(1) where the Participant enters into a transaction as a result of placing a Market on Close Order on the Chi-X Market. It also provides that Chi-X does not have to comply with subrule 6.1.2(1) in relation to a Market on Close Order it receives.
30/04/2018	2018/311	Class waiver	The waiver relieves Market Participants from the obligation to comply with subrule 6.1.1(1) where the Market Participant enters into a transaction: (i) as an ETF Special Trade; (ii) as a Crossing of a Derivative/Cash Combination; (iii) as a result of a Derived Order relating to a component leg of a Derivative/Cash Combination or a Cash Only Combination that is traded as a Tailor-Made Combination; (iv) as part of a contingent equity transaction (until 4 May 2020); (v) as an Exchange-Traded Fund Special Trade on the Chi-X Market; or (vi) a Trade with Price Improvement where the Best Available Bid and Best Available Offer does not include PureMatch data.
3/05/2018	18/324	CMC Markets Stockbroking Limited	The waiver relieves CMC Markets Stockbroking Limited from is obligation under Rule 3.5.3 where it deposits money received from a client who is a resident of New Zealand in a clients' segregated account or a clients' trust account with the Bank of New Zealand and notice is given to the client.
3/05/2018	18/325	WealthHub Securities Limited	The waiver relieves WealthHub Securities Limited from the obligation to comply with Rule 3.7.3(2) in relation to an International Equity Security, on the condition that specified disclosures are made and records are kept.
18/06/2019	19/576	Barclays Capital Asia Limited	Expired 1 July 2022. Remade as ASIC Market Integrity Rules (Capital, Securities Markets) Barclays Capital Asia Limited Waiver 2022/516.
23/7/2019	19/084	Commonwealth Securities Limited	The waiver relieves Commonwealth Securities Limited in specified circumstances relating to the operation of its 'CommSec Pocket' service from its obligations to comply with Subrules 3.3.1 (b) and (c), Rule 3.8.1, Rule 5.1.3. Rule 5.1.5 and Subrule 5.4.2(2).
27/10/2020	2020/870	Class waiver	Waives Market Participants of securities markets from certain obligations in Part 2.4 in relation to their Representatives who were accredited as a Level One Accredited Derivatives Adviser, Level Two Accredited Derivatives Adviser or Accredited Futures Adviser immediately before the Renewal Date of 30 November 2020 for those accreditations (Notionally Accredited Advisers) Operation extended to 30 November 2023 by ASIC Market Integrity Rules (Securities Markets) Class Waiver (Amendment) Instrument 2021/926.
10/6/2022	2022/516	Barclays Capital Asia LImited	The waiver relieves Barclays Capital Asia Limited in specified circumstances from its obligations to comply with: (1) a provision of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 only to the extent that the provision requires it to make or apply an FX Position Risk Calculation (in respect of assets denominated in a currency other than Australian dollars), provided that it instead makes or applies an Alternative FX Position Risk Calculation (for assets denominated in a currency other than Hong Kong dollars) in place of the FX Position Risk Calculation; (2) paragraph 9.2.2(1)(b) and subrule 9.2.2(2) of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 on the condition that it implements an alternative capital monitoring system and provides analogous reports to ASIC; (3) rule 9.2.3 of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 on the condition that it must prepare and deliver to ASIC by the 21st day of each calendar month: (a) a Monthly Risk-Based Return are prepared in accordance with accounting standards and principles which are generally accepted in Hong Kong; and (b) a Risk-Based Return Declaration relating to the Monthly Risk-Based Return. (4) subrule 9.2.4(1) of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 and paragraph 4.3.2(1)(a) of the ASIC Market Integrity Rules (Securities Markets) 2017 on the condition that it submits to ASIC within 4 months of its financial year end its statutory accounts required under the laws of Hong Kong and documents, returns and declarations substantially similar to those required under subrule 9.2.4(1)of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017. This waiver expires after 1 July 2025.
30/9/2022	2022/811	BNP Paribas SA	BNPP does not have to comply with any of the provisions of the Securities Markets Rules where: (a) BNPP’s Trading Permission in respect of Cash Market Products is restricted to reporting on a Trading Platform of ASX any Cash Market Transactions arising from the exercise of a Derivatives Market Contract; (b) BNPP is not permitted by ASX to have arrangements for connectivity to the Trading Platform of ASX; and (c) BNPP’s Trading Permission and clearing arrangements in respect of Derivative Market Transactions is restricted to receiving allocations as Second Participant; Subject to the following conditions: (a) BNPP must notify ASIC of any changes to: (i) the conditions imposed by ASX on the admission or Trading Permission of BNPP; and (ii) the business model for the business that BNPP carries on in relation to the ASX Market; (b) BNPP must notify ASIC of any changes referred to in paragraph (a) at least 10 Business Days before those changes take effect, or if it is not reasonably practicable to notify ASIC by that time, as soon as reasonably practicable after that time.
14/11/2022	2022/881	Class Waiver	Remakes the existing waivers granted by ASIC under the ASIC Market Integrity Rules (Securities Markets) Class Waiver 2018/258, ASIC Waiver 18/260 and ASIC Waiver 18/261 (together, the Existing Waivers), each of which expired on 16 November 2022, and consolidates them into a single legislative instrument; extends the relief to 16 November 2024. Exempts participants of the markets operated by the National Stock Exchange of Australia Limited (NSXA) and the Sydney Stock Exchange Limited (SSX) from their obligations to comply with Parts 3.8, 3.9, 3.10. 3.11, 5.1AA, 5.9A, 6.1, 6.3 and 7.4. Exempts the NSXA and SSX from their obligations as market operators to comply with Parts 6.1, 6.3, 7.4, 9.1, 9.2, 9.3 and 9.4 and Chapter 8.

Date of instrument	Instrument No	Entity	Effect of waiver
23/04/2018	18/262	Interactive Brokers LLC	The waiver relieves Interactive Brokers LLC from its obligation to comply with Rule 9.2.3 of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 to prepare and deliver to ASIC a monthly return within ten business days of month’s end, provided that it prepares and delivers a monthly return to ASIC within fifteen business days of the end of the calendar month.
18/06/2019	19/576	Barclays Capital Asia Limited	Expired 1 July 2022. Remade as ASIC Market Integrity Rules (Capital, Securities Markets) Barclays Capital Asia Limited Waiver 2022/516.
10/6/2022	2022/516	Barclays Capital Asia Limited	The waiver relieves Barclays Capital Asia Limited in specified circumstances from its obligations to comply with: (1) a provision of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 only to the extent that the provision requires it to make or apply an FX Position Risk Calculation (in respect of assets denominated in a currency other than Australian dollars), provided that it instead makes or applies an Alternative FX Position Risk Calculation (for assets denominated in a currency other than Hong Kong dollars) in place of the FX Position Risk Calculation; (2) paragraph 9.2.2(1)(b) and subrule 9.2.2(2) of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 on the condition that it implements an alternative capital monitoring system and provides analogous reports to ASIC; (3) rule 9.2.3 of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 on the condition that it must prepare and deliver to ASIC by the 21st day of each calendar month: (a) a Monthly Risk-Based Return are prepared in accordance with accounting standards and principles which are generally accepted in Hong Kong; and (b) a Risk-Based Return Declaration relating to the Monthly Risk-Based Return. (4) subrule 9.2.4(1) of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 and paragraph 4.3.2(1)(a) of the ASIC Market Integrity Rules (Securities Markets) 2017 on the condition that it submits to ASIC within 4 months of its financial year end its statutory accounts required under the laws of Hong Kong and documents, returns and declarations substantially similar to those required under subrule 9.2.4(1)of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017. This waiver expires after 1 July 2025.

Date of instrument

Instrument No

Entity

Effect of waiver

23/04/2018

18/262

Interactive Brokers LLC

The waiver relieves Interactive Brokers LLC from its obligation to comply with Rule 9.2.3 of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 to prepare and deliver to ASIC a monthly return within ten business days of month’s end, provided that it prepares and delivers a monthly return to ASIC within fifteen business days of the end of the calendar month.

18/06/2019

19/576

Barclays Capital Asia Limited

Expired 1 July 2022. Remade as ASIC Market Integrity Rules (Capital, Securities Markets) Barclays Capital Asia Limited Waiver 2022/516.

10/6/2022

2022/516

Barclays Capital Asia Limited

The waiver relieves Barclays Capital Asia Limited in specified circumstances from its obligations to comply with:

(1) a provision of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 only to the extent that the provision requires it to make or apply an FX Position Risk Calculation (in respect of assets denominated in a currency other than Australian dollars), provided that it instead makes or applies an Alternative FX Position Risk Calculation (for assets denominated in a currency other than Hong Kong dollars) in place of the FX Position Risk Calculation;

(2) paragraph 9.2.2(1)(b) and subrule 9.2.2(2) of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 on the condition that it implements an alternative capital monitoring system and provides analogous reports to ASIC;

(3) rule 9.2.3 of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 on the condition that it must prepare and deliver to ASIC by the 21st day of each calendar month:

(a) a Monthly Risk-Based Return are prepared in accordance with accounting standards and principles which are generally accepted in Hong Kong; and

(b) a Risk-Based Return Declaration relating to the Monthly Risk-Based Return.

(4) subrule 9.2.4(1) of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017 and paragraph 4.3.2(1)(a) of the ASIC Market Integrity Rules (Securities Markets) 2017 on the condition that it submits to ASIC within 4 months of its financial year end its statutory accounts required under the laws of Hong Kong and documents, returns and declarations substantially similar to those required under subrule 9.2.4(1)of the ASIC Market Integrity Rules (Securities Markets - Capital) 2017.

This waiver expires after 1 July 2025.

Date of instrument	Instrument No	Entity	Effect of waiver
24/04/2018	2018/264	Class waiver	The waiver relieves a Market Participant from the obligation to have in force a client agreement containing a term to the effect of the acknowledgement specified in subparagraph 2.2.5(1)(b)(vi) of the Rules in respect of a client that is a trustee of a trust or an operator of a managed investment scheme.
23/04/2018	2018/265	Class waiver	The waiver provides relief from Rules 7.2.2(4), 7.2.5, 7.2.6 and 7.2.8 (Relevant Rules) of the ASIC Market Integrity Rules (Futures Markets) 2017 to the extent that those rules apply the definition of ‘Approved Securities’ in Rule 7.1.1. It introduces a new term ‘Approved Collateral’ which refers to securities, collateral and other property accepted by ASX Clear (Futures). The effect of the legislative instrument is to allow trading participants to rely on the list of accepted collateral published by ASX Clear (Futures), to meet their obligations under the Relevant Rules.
23/04/2018	2018/267	Class waiver	The waiver relieves a Market Participant from the obligation to comply with paragraph 5.2.2(1)(a) and subrule 5.2.2(2) of the ASIC Market Integrity Rules (Futures Markets) 2017. The relief applies with respect to a client whose orders are not matched or executed in the Crossing System operated by the Market Participant.
23/04/2018	18/294	Australian Securities Exchange Limited	The waiver provides conditional relief to Australian Securities Exchange Limited (ASX 24) from its obligation to comply with: (1) Rule 8.1.3 to have in place adequate controls to prevent an Anomalous Order that is a Net Price Strategy Order from entering an Order Book of the ASX 24 Market where: (a) at the time of entry, there is no Anomalous Order Threshold established for one or more of the Futures Market Contracts which are the subject of the Net Price Strategy Order; or (b) the Net Price Strategy Order matches with another Net Price Strategy Order and the resulting trade price generated by the Spread Trade Price Algorithm is outside the current Anomalous Order Threshold for one or more of the corresponding Futures Market Contracts. (2) subrule 8.2.2(1) to determine the Reference Price for an ASX SPI 200 Future or Equity Index Future at specified times and using the methodology set out in that Rule provided it determines and uses an Alternative Reference Price. (3) paragraph 8.2.2C(1)(c) to immediately impose a Trading Pause on an ASX SPI 200 Future or Equity Index Future for a period of two minutes following an ETR Event that occurs where: (a) the price of the opening transaction in the ASX SPI 200 Future or Equity Index Future on an Order Book of the ASX 24 Market after a Trading Reset was Invalid; (b) ASX 24 determines an Alternative Reference Price for the ASX/SPI 200 or Equity Index Future; and (c) the price for the opening transaction is in the Extreme Trade Range as determined by reference to the Alternative Reference Price. The relief in the instrument applies until 20 March 2020.
24/04/2018	18/295	Societe Generale Securities Australia Pty Ltd	The waiver relieves Societe Generale Securities Australia Pty Ltd (SGSA) from the obligation to comply with Rule 7.2.10 in relation to a credit line where SCSA has arranged the provision of the credit by a branch of Societe Generale SA in France, Hong Kong or Singapore to a wholesale client that is a corporation to meet Initial Margin and Variation Margin requirements.
23/04/2018	2018/302	Class waiver	The waiver relieves Market Participants, in certain circumstances, from the obligation under subrule 2.3.2(1) to perform daily client segregated account (CSA) reconciliations by 7.00 pm on the next business day. The relief from subrule 2.3.2(1) applies in the case where a Market Participant is ordinarily unable to perform the reconciliation referred to in subrule 2.3.2(1) by 7.00 pm on the next business day, because the Market Participant relies on information from a person outside Australia to perform this reconciliation. The instrument also relieves Market Participants from the obligation under paragraph 2.3.4(a) to notify ASIC, in writing, within two business days, if the reconciliation has not been performed by 7.00 pm on the next business day.
26/04/2018	2018/305	Class waiver	The waiver relieves Market Participants from providing certain information to ASIC in a ‘Crossing System Initial Report’ (Rule 5.1.1) and available free of charge on a publicly accessible website (Rule 5.2.1) where a Market Participant receives Orders via another person (an Aggregator), and it is not possible to disclose information about the other Crossing Systems and Market Participants that operate Crossing Systems that transmit Orders to the Aggregator. Under the conditions of the relief, the Market Participant must instead disclose the full legal name of the Aggregator and the code that uniquely identifies any Crossing System operated by the Aggregator.
30/04/2018	2018/312	Class waiver	The waiver relieves a Principal Trader from the obligation to comply with paragraphs 2.2.1(1)(ab), (b), (c) and (e) of the ASIC Market Integrity Rules (Futures Markets) 2017, in the case where the Principal Trader is a client of another Market Participant and the Principal Trader accesses the market through that Market Participant.
30/04/2018	2018/313	Class waiver	The waiver relieves a Market Participant from the obligation to comply with: (a) subrule 2.2.1(1)(a), to the extent that subrule requires the Market Participant to set and document an appropriate pre-determined aggregate loss limit on each of its Client Accounts. This waiver is conditional on the Market Participant implementing appropriate processes to monitor the aggregate loss limit on each of its Client Accounts; (b) subrule 2.2.1(1)(ab), to the extent that subrule requires the Market Participant to set and document an appropriate pre-determined aggregate loss limit on each of its House Accounts. This waiver is conditional on the Market Participant implementing appropriate processes to monitor the aggregate loss limit on each of its House Accounts; and (c) subrule 2.2.1(1)(c), to the extent that subrule requires a Market Participant’s risk manager to input the aggregate loss limits determined by the Market Participant in accordance with subrules 2.2.1(a) and 2.2.1(ab) into Trading Platform account maintenance The relief in the instrument expires on 22 March 2027.
3/05/2018	18/322	Citigroup Global Markets Australia Pty Limited	The waiver relieves Citigroup Global Markets Australia Pty Limited (CGMA) from the obligation to comply with paragraph 2.2.6(b) of the Rules to the extent that this paragraph prohibits the payment of Permitted Money into a Client Segregated Account maintained by the market participant. The relief applies where, prior to paying Permitted Money into a Clients' Segregated Account, CGMA has disclosed to the client in writing that the Permitted Money will be paid into a Client Segregated Account operated under the Futures Markets Rules.
3/05/2018	18/323	J.P. Morgan Markets Australia Pty Limited	The waiver relieves J.P. Morgan Markets Australia Pty Limited (JPMMA) of the obligation to comply with subrule 3.1.17(1) which prohibits a market participant from offering and/or allocating trades to a client unless those trades have been obtained under instructions previously obtained from that client, in the case where JPMMA allocates open positions in futures market contracts acquired through an ASX OTC default management auction to JP Morgan Chase Bank National Association under a standing instruction.
3/05/2018	18/326	Macquarie Bank Limited	The waiver relieves Macquarie Bank Limited from the obligation to comply with paragraph 2.2.6(b) of the Rules to the extent that this paragraph prohibits the payment of Permitted Money into a Client Segregated Account maintained by the market participant. The relief applies where, prior to paying Permitted Money into a Clients' Segregated Account, Macquarie Bank Limited has disclosed to the client in writing that the Permitted Money will be paid into a Client Segregated Account operated under the Futures Markets Rules.
18/03/2020	20/229	Class waiver	ASIC Market Integrity Rules (Futures Markets) Class Waiver Amendment Instrument 2020/229 amends the ASIC Market Integrity Rules (Futures Markets) Class Waiver 2018/313 to extend it to 18 March 2022.

Register of waivers granted under ASIC market integrity rules

ASIC Market Integrity Rules (Securities Markets)

ASIC Market Integrity Rules (Securities Markets - Capital)

ASIC Market Integrity Rules (Futures Markets)

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