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.

See waivers granted under:

ASIC Market Integrity Rules (Securities Markets)

ASIC Market Integrity Rules (Securities Markets-Capital)

ASIC Market Integrity Rules (Futures Markets)

ASIC Market Integrity Rules (Futures Markets-Capital)

We also publish monthly Regulatory document update tables, from August 2013, of updates to our regulatory documents, including updates not notified in media releases.

View waivers granted before 7 May 2018

 

ASIC Market Integrity Rules (Securities Markets)

Date of instrumentInstrument NoEntityEffect of waiver
20/04/2018 2018/258 Class waiver The waiver relieves a Participant of the NSXA Market, other than an NSXA AOP Participant, from its obligations to comply with the ASIC Market Integrity Rules (Securities Markets) 2017 in connection with its activities or conduct in relation to the NSXA Market until Monday 5 November 2018.

The waiver provides similar transitional relief to an NSXA AOP Participant except that, in connection with the use of the NSXA AOP Participant’s system for Automated Order Processing on the NSXA Market, the NSXA AOP Participant is not given relief from its obligations under the provisions of Part 5.5, 5.6 or 5.7 of the Rules.

The waiver provides transitional relief until 16 November 2020 to Participants of the NSXA and SSX Markets from certain provisions of the Rules that are derived from the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011.

20/04/2018 18/260 National Stock Exchange of Australia Limited The waiver provides that National Stock Exchange of Australia Limited (NSXA) does not have to comply with any provision of the ASIC Market Integrity Rules (Securities Markets) 2017 until 5 November 2018. It further provides that NSXA does not have to comply with certain provisions of the Rules that are derived from the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 from 5 November 2018 to 16 November 2020.
20/04/2018 18/261 Sydney Stock Exchange Limited The waiver relieves Sydney Stock Exchange Limited (SSX) from the obligation to comply with certain provisions of the ASIC Market Integrity Rules (Securities Markets) 2017 (that are derived from the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011) until 16 November 2020.
23/04/2018 18/263 Liquidnet Australia Pty Ltd The waiver relieves Liquidnet Australia Pty Ltd (Liquidnet) from its obligation to comply with Rule 2.5.2 of the ASIC Market Integrity Rules (Securities Markets) 2017 where its Trading Permission is restricted to reporting to ASX any transactions executed in its Crossing System. The waiver is subject to conditions that Liquidnet notifies ASIC of any changes to the conditions imposed by ASX Limited on its admission or Trading Permission.
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) of the Rules. 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) of the Rules 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 of the Rules 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) of the Rules 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 of the Rules 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) of the Rules 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) of the Rules 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) of the Rules in relation to making available Trading Information as prescribed in the table in subrule 6.3.6(2) of the Rules.
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) of the Rules, 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 CSA 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 The waiver relieves BNP Paribas Securities Services (BNPSS) from the obligation to comply with any of the provisions of the Rules where certain restrictions apply to BNPSS’s Trading Permission. The waiver is granted subject to certain conditions including that BNPSS notify ASIC of any changes to the conditions imposed by ASX on the admission or Trading Permission of BNPSS and the business model for BNPSS’s business in relation to the ASX Market.
26/4/2018 2018/303 Class waiver The waiver provides relief until 30 June 2020 from Market Participants’ obligation under Rule 3.4.1 of the Rules to provide a confirmation (or alternative notifications under paragraph 3.4.3(1)(b) of the Rules, if applicable) to a wholesale client for a Market transaction in a Derivatives Market Contract.
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 of the Rules 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) of the Rules 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) of the Rules 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) of the Rules 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.

 

ASIC Market Integrity Rules (Securities Markets - Capital)

Date of instrumentInstrument NoEntityEffect of waiver
20/04/2018 2018/259 Class waiver The waiver relieves a Participant of the NSXA Market, other than a person who is an NSXA AOP Participant or a Participant of the NSXA Market and one or more other Markets, from its obligations to comply with the ASIC Market Integrity Rules (Securities Markets – Capital) 2017 until 6 May 2019
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.

 

ASIC Market Integrity Rules (Futures Markets)

Date of instrumentInstrument NoEntityEffect 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 will cease at the end of 20 March 2020.

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.

 

ASIC Market Integrity Rules (Futures Markets - Capital) 2010

Date of instrumentInstrument NoEntityEffect of waiver
27/04/2018 18/301 BNP Paribas The waiver relieves BNP Paribas from the obligation to comply with subrule 6.2.1(1) to prepare and deliver to ASIC a monthly return within ten business days of months' end, as set out by paragraph 6.2.1(2)(b), and 6.2.1(5), where it maintains a prescribed amount of Tier 1 Capital and lodges Quarterly Capital Statements with ASIC.

 

 

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Last updated: 07/05/2018 11:30