Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p9
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 23671–26341

paid by a Client in respect of a Futures Market Contract entered into or proposed to be entered into on behalf of a Client.
Invalid, in relation to a price established by an auction, or the price of a transaction, means:
(a)        the price has resulted from an error;
(b)       the price is materially different from the price of the last transaction in the same, Equity Index Future or ASX SPI 200 Future (as applicable) on the same Order Book, and the difference in price is not, in the opinion of the relevant Market operator, readily attributable to an announcement that has been made to that Market or some other event; or
(c)        the price has resulted from a transaction that is otherwise required to be cancelled or amended by the operator of the Market on which the transaction is executed.
Margin means Initial Margin and Variation Margin.
Market means any of the following:
 1.         the ASX 24 Market;
 2.        the FEX Market.
Minimum Volume Threshold means the threshold determined by a Market operator under its operating rules, being the minimum number of lots in respect of each Contract.
Month means calendar month.
Non-Public Crossing System Information has the meaning given by subrule 5.2.2(5).
Offer means, in relation to a financial product, a price and quantity of the financial product to be sold.
Open Position An open position exists where the obligations under a Contract held by a party, which has not been closed out are yet to be performed and will refer as the context requires either to an open position as defined by the Clearing Rules of a Market, held by a Clearing Participant under the Clearing Rules for that Market, or to such an open position which is held by a Market Participant on the instructions of a client, including open positions held, where applicable on markets other than the Market.
Option or Option Contract means an option over:
(a)        a Futures Market Contract or a number of Futures Market Contracts; or
(b)       an option over an Underlying Physical,
as listed by a Market operator in relation to its Market.
Order means an instruction to enter into a Contract, or an instruction to amend or cancel a prior instruction to enter into a Contract.
Order Book means an electronic list of Orders maintained by or on behalf of a Market operator, on which those Orders are matched with other Orders in the same list.
Order System means a software application, satisfactory to a Market operator in relation to its Market, for entering Orders into the Trading Platform through a Terminal.
Other Regulated Entities means entities prescribed by regulations made for the purposes of paragraph 798H(1)(c) of the