Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p33
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 86061–88789

withhold an Order with an intent to obtain a counterparty or counterparties.

(2) A Market Participant must not withhold two or more Orders with the intent to avoid trading with a Market.

3.1.9 Withdrawing Orders

A Market Participant must not withdraw Orders in whole or in part for the benefit of another person.

3.1.10 Pre-arrangement

Subject to paragraphs 3.3.1(1)(b) and 3.4.1(a), a Participant of a Market must not arrange the details of a potential trade between two or more parties unless Participants of the same Market have been made generally aware of all relevant details of the potential trade, or unless specifically permitted otherwise under these Rules.

3.1.11 Trading to the exclusion of others

A Participant of a Market must not execute or attempt to execute trades with the intent to exclude other Participants of the same Market or their Representatives.

3.1.12 Wash trades
(1) Subject to subrule (2), a Market Participant must not allow trades to occur such that both sides of the trade are on behalf of the same account (a wash trade).
(2) Subrule (1) does not prohibit:
(a)        a transaction where both sides are taken by the same Market Participant where the ultimate Clients are different;
(b)       a transaction where both sides are by the same entity but acting in different capacities; and
(c)        a transaction where each side is for a different division of the same Market Participant entity which is trading separately and for different purposes.
(3) Subject to subrules (4), (5) and (6):
 1.         a Participant of the FEX Market must report to ASIC all breaches of subrule (1) occurring on the FEX Market; and
 2.        a Participant of the ASX 24 Market must report to ASIC all the following breaches of subrule (1) occurring on the ASX 24 Market:
(i)         wash trades of 50 lots or more in volume;
(ii)       a wash trade that is not or does not appear to be inadvertent; and
(iii)     wash trades that do not relate to the following Market Contracts:
(A)      30 Day Interbank Cash Rate futures;
(B)      90 Day Bank Accepted Bills futures;
(C)      3 Year Commonwealth Treasury Bond futures;
(D)      10 Year Commonwealth Treasury Bond futures;
(E)       SPI 200 Index futures; or
(iv)      where a Market Participant's Client with direct market access has executed a wash trade and the Client intended to cross the trade.
(4) Where a Participant of the ASX 24 Market breaches subrule (1) that Market Participant must maintain a wash trade register in respect of any wash trade executed under their mnemonic, recording details of breaches of subrule (1) that were not reported to ASIC under paragraph (3)(b).
(5) A Market Participant is not required to report a wash trade