Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p35
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 91010–93881

traded for that person's account if that person trades for any entity, person or account:
 1.         in which that person has a beneficial interest, including a Market Participant's House Account in which the person has a financial interest; or
 2.        in which that person might by exercise of some discretion have a beneficial interest, including a Market Participant's House Account in which the person has, or may have, a financial interest; or
 3.         over which that person exercises any control (other than an account of the Market Participant of which the person is a director, partner or Employee where such control is exercised in that capacity); or
 4.        which is a corporation in whose shares that person has a "Relevant Interest" as that term is defined by the Corporations Act; or
 5.         which is that person's relative or a relative's account in which that person has a financial interest.
(3) For the purposes of this Rule:
 1.         a Client of a Market Participant which is a corporation includes a related body corporate or a division of the Market Participant which is separate from the Market Participant's futures division;
 2.        a person having a financial interest in an account includes any benefit which that person may enjoy as the result of the operation of that account, or trading under that account; and
 3.         a relative of a person refers to spouse, parents, son, daughter, brother, sister, grandparents, grandchildren, aunts and uncles.

3.1.15 Dual trading prohibition
(1) A Market Participant's Representative must not initiate a trade for any Market Participant's House Account in a Contract, where that Representative is holding or is likely to hold the Market Participant's Client Orders to trade, or for any reason is likely to have knowledge or information of the Market Participant's Client Orders to trade, in the same or similar commodity unless permitted under subrule (3).
(2) Conflict management
A Market Participant must ensure that Employees initiating trading for Client Orders cannot initiate trades for the Market Participant's House Account and that an Employee who initiates trades for the Market Participant's House Account will not be privy to information concerning Client Orders.
(3) A Market Participant which executes a trade to cover an Error Trade is not in breach of subrule (1).
(4) In this Rule:
 1.         Client includes a related body corporate or a division of the Market Participant which is separate from that Market Participant's futures division.
 2.        House Account means an account operated by a Market Participant for principal dealing only. It excludes dealings by the Market Participant on behalf of a corporation related to the Market Participant or another division within that Market Participant's corporation which is separate from its futures division.