Document ID: chunk:federal_register_of_legislation:F2024C01108:front:0:p34
Version: federal_register_of_legislation:F2024C01108
Segment Type: other
Provision Reference: 
Character Range: 91138–94037

the Automated Order Processing Requirements.

2.5.2 Trading Participant must have a DTR
A Trading Participant must have at least one DTR.

2.5.3 DTRs may submit Trading Messages
A Trading Participant must ensure that only its DTRs submit Trading Messages into a Trading Platform through the Trading Participant's system, unless the trading on that Market is conducted in accordance with the Automated Order Processing Requirements.

2.5.4 Responsibility of Trading Participant
A Trading Participant is responsible for the accuracy of details, the integrity and bona fides of all Trading Messages containing their unique identifier that are submitted into a Trading Platform, regardless of whether a DTR of the Trading Participant was involved in their submission.

2.5.5 DTR criteria
A Trading Participant must ensure that:
 1.         each of its DTRs is at all times a Representative of the Trading Participant authorised to deal in the financial products in respect of which the DTR submits orders on behalf of the Trading Participant to a Market either:
        1.          under the Trading Participant's AFSL; or
(ii)       under the person's own AFSL (unless the person is a Principal Trader not required to hold an AFSL);
(b)       each of its DTRs is suitably qualified and experienced to deal in the financial products referred to in paragraph (a), by submitting orders on behalf of the Trading Participant;
(c)        prior to submitting Trading Messages to a Market on behalf of the Trading Participant, each DTR has demonstrated to the Trading Participant knowledge of the Dealing Rules governing the process of dealing and reporting Market transactions on the Trading Platform of that Market, and the relevant practices of the operator of that Market;
(d)       each of its DTRs does not:
 1.          execute any order in a Trading Platform for or on behalf of, or which will benefit, directly or indirectly, the DTR or any associate or Relative of the DTR, without the prior written approval of the Trading Participant;
(ii)       intentionally take advantage of a situation arising as a result of:
 1.        a breakdown or malfunction in a Market operator's procedures or systems;
(B)       an error made over a communications service supplied to subscribers by a Market operator to provide voice announcements originating from that Market operator; or
(C)       an error in entries made by a Market operator within a Trading Platform.

2.5.6 Trading Participant must allocate unique identifier

A Trading Participant must allocate a unique identifier to each DTR of the Trading Participant.

2.5.7 Records—DTRs

A Trading Participant must maintain a record of:
 1.         the name, contact details and DTR identifier of each of its DTRs, while the person remains a DTR of the Trading Participant; and
(b)       the information in paragraph (a) for a period of seven years from