Document ID: chunk:federal_register_of_legislation:F2024C01108:front:0:p7
Version: federal_register_of_legislation:F2024C01108
Segment Type: other
Provision Reference: 
Character Range: 20581–23422

and
(b)       is permitted by a Trading Participant to submit orders into the Trading Participant's system.
Automated Client Order Processing is the Automated Order Processing of an order submitted by an Authorised Person into a Trading Participant's system.
Automated Order Processing means the process by which orders are registered in a Trading Participant's system and, if accepted for submission into a Trading Platform by the Trading Participant, submitted as corresponding Trading Messages without being keyed or rekeyed by a DTR.
Automated Order Processing Requirements means the requirements of Part 5.6.
Best Available Bid, in relation to a transaction in Equity Market Products or CGS Depository Interests, means the highest Pre-Trade Transparent Bid, for Equity Market Products or CGS Depository Interests in the same class as the Equity Market Products or CGS Depository Interests the subject of the transaction, available across all Order Books at the time the transaction is executed.
Best Available Offer, in relation to a transaction in Equity Market Products or CGS Depository Interests, means the lowest Pre-Trade Transparent Offer, for Equity Market Products or CGS Depository Interests in the same class as the Equity Market Products or CGS Depository Interests the subject of the transaction, available across all Order Books at the time the transaction is executed.
Best Mid-Point means:
   (Best Available Bid + Best Available Offer) ÷ 2.
Bid means:
 1.         in relation to a Cash Market Product, a price and quantity of the Cash Market Product to be purchased;
(b)       in relation to a Derivatives Market Contract, an offer to enter into a Derivatives Market Transaction in respect of the relevant Derivatives Market Contract as Buyer;
(c)        in relation to a Combination, a price and quantity of the Combination; and
(d)       in relation to any other financial product, a price and quantity of the financial product to be purchased.
Bid Class means, in relation to a Takeover Bid, the class of financial products included in the bid class of financial products under the Corporations Act.
Bidder means:
 1.         in relation to a Takeover Off-Market Bid or Takeover Market Bid, a bidder within the meaning of the Corporations Act and, in respect of an Issuer incorporated or established outside Australia, the equivalent entity; and
(b)       in relation to a Scheme, the entity or entities in a similar position to a bidder.
Bid Period:
 1.         for a Takeover Off-Market Bid, means the period that starts when the Bidder's statement is given to the Target and ends:
        1.          one month later if no offers are made under the bid; or
(ii)       at the end of the Offer Period;
(b)       for a Takeover Market Bid, starts when the bid is announced by a Market Participant acting on behalf of