Document ID: chunk:federal_register_of_legislation:F2024C01108:front:0:p67
Version: federal_register_of_legislation:F2024C01108
Segment Type: other
Provision Reference: 
Character Range: 178157–181009

its Own Account when it has an unfulfilled Order on the same terms for those Market transactions from a client.

5.1.7 Unexecuted order in Underlying Financial Products—Trading Participant not to make Bids or Offers
If a Trading Participant has or receives an Order to buy or sell an Underlying Financial Product in the Underlying Market which may materially affect:
 1.         the market price of the Underlying Financial Product in the Underlying Market; or
(b)       the level of an Underlying Index, the level of which is calculated by reference to the value of that Underlying Financial Product and other financial products,
the Trading Participant must not make Bids or Offers to enter into an Options Market Transaction over that Underlying Financial Product as Principal until the Order in the Underlying Financial Product has been executed in the Underlying Market.

5.1.8 Allocation policy and Automated Client Order Processing Crossings—Disclosure to Client
(1) A Market Participant must when requested to do so by a person (the Client), disclose to the Client each of the following:
 1.         the policy it adopts in the allocation of Market transactions to fill orders placed with it, for each Market requested by the Client; and
(b)       in relation to Crossings under the operating rules of each Market requested by the Client:
 1.          that the Client's orders may match opposite orders in a Trading Platform by the same Market Participant, effectively resulting in a Crossing and entitling the Market Participant to commission from both sides of the transaction; and
(ii)       if the Market Participant deals as Principal, that the Client's orders may match opposite orders in a Trading Platform on behalf of the same Market Participant as Principal.
(2) The Market Participant must keep a record of disclosures made under subrule (1).

Part 5.4 Transactions by connected persons (including persons connected with other Market Participants)

5.4.1 Application
In this Part 5.4, a reference to a connected person is a reference to the following persons:
 1.         an Employee;
(b)       a company controlled by an Employee; and
(c)        a Controlled Trust (other than a trust controlled by an Immediate Family of an employee or a trust in relation to which an Immediate Family of an Employee is a trustee or holds more than 50% of the whole beneficial interest).

5.4.2 Internal consent required for trading by connected persons
(1) A Market Participant must not enter into a Market transaction by or for the account of its connected persons, whether the Market transaction is conducted through that Market Participant or through another Market Participant, unless the Market transaction has been approved in writing in accordance with subrule (4) by a director or partner of the Market Participant or a person with written