Document ID: chunk:federal_register_of_legislation:F2024C01108:reg:6:p3
Version: federal_register_of_legislation:F2024C01108
Segment Type: reg
Provision Reference: reg 6 (pt 3/8)
Character Range: 253256–256058

the purposes of paragraph (1)(c):
(a)        Tier 1 Equity Market Products means those Equity Market Products determined by ASIC under these Rules and in accordance with subrule (4);
(b)       Tier 2 Equity Market Products means those Equity Market Products determined by ASIC under these Rules and in accordance with subrule (4); and
(c)        Tier 3 Equity Market Products means all Equity Market Products that are not Tier 1 or 2 Equity Market Products.
(4) For the purposes of subrule (3), ASIC may determine Tier 1 Equity Market Products and Tier 2 Equity Market Products in writing.
     (5) An instrument referred to in subrule (4) takes effect from 20 business days following the date the instrument is registered.
Note: Instruments made under subrule (4) are available on the Federal Register of Legislation. The register may be accessed at www.legislation.gov.au.

6.2.2 Exception—Large Portfolio Trades

(1) In these Rules, Large Portfolio Trade means a transaction where:
(a)        if the transaction is entered into other than by matching of Orders on an Order Book, the Relevant Participant acts:
(i)         on behalf of a buying or selling client on one side of that transaction and a client on the other side; or
(ii)       on behalf of a buying or selling client on one side of that transaction and as Principal on the other side;
(b)       the transaction is entered into pursuant to a single agreement between the buyer and seller for consideration in total of not less than $5,000,000; and
(c)        the transaction comprises purchases or sales of Relevant Products in not less than 10 different classes for which the minimum consideration in each class is $200,000.

(2) Nothing in paragraph (1)(c) prevents the transaction from comprising additional purchases or sales in other classes where the consideration for those classes is less than $200,000.

6.2.3 Exception—Trades with Price Improvement
(1) In these Rules, a transaction is a Trade with Price Improvement where:
(a)        the transaction is executed at a price per Relevant Product which is:
(i)         higher than the Best Available Bid and lower than the Best Available Offer for the Relevant Product by one or more Price Steps; or
(ii)       at the Best Mid-Point;
(b)       if the transaction is entered into other than by matching of Orders on an Order Book, the Relevant Participant acts:
(i)         on behalf of both buying and selling clients to that transaction; or
(ii)       on behalf of a buying or selling client on one side of that transaction and as Principal on the other side; and
(c)        the consideration for the transaction is greater than $0.
(2) For the purposes of this Rule, the Best Mid-Point is not limited to standard Price Steps for the Relevant Product.

6.2.4 Exception—Permitted