Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p19
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 49277–52102

the event of a dispute or anticipated dispute.

 1.        Right to refuse to deal

An acknowledgment by the Client that the Market Participant reserves the right to refuse to deal on behalf of the Client in relation to any dealings in Contracts (other than Closing Out existing Open Positions held in the Market Participant's account on behalf of the Client) or limit the number of Open Positions held on behalf of the Client or both. The Market Participant will inform the Client of any refusal at or before the time of the Client placing the Order or as soon as possible thereafter.

 1.         Termination and Closing Out

An acknowledgment that:

(i)         without affecting any existing obligations or liabilities, either the Client or the Market Participant may terminate the agreement at any time by giving the other notice in writing to that effect; and

(ii)       upon termination of the Client agreement that unless otherwise agreed in writing the Market Participant will Close Out all the Client's Futures Market Contracts and Close Out, abandon or exercise any Options not yet exercised.
(2) Exception
Subrule (1) does not apply:
(a)        to a Principal Trader;
(b)       where the Client is another Market Participant of the same Market, and the operating rules of the relevant Market provide that an agreement containing the terms of subrule (1) is deemed to have been entered and come into effect immediately upon the Market Participant accepting the first instruction from the Client to enter a Contract; or
(c)        where the Market Participant is performing execution business only and has an agreement in place with the Client that incorporates the provisions set out in the International Uniform Brokerage Execution Services ("Give-Up") Agreement 2008 (both client and trader versions).

2.2.6 Clients' segregated account obligations
A Market Participant, who holds Client monies, must comply with the following:
 1.         Client money
(i)         All money received by the Market Participant from its Clients or by a person acting on behalf of the Client under these Rules or the operating rules of a Market must be deposited in an account maintained by the Market Participant and designated as a Clients' segregated account.
(ii)       If the account is operated outside Australia and the law in force in the jurisdiction where it is maintained requires the account to be designated in a particular way, the Market Participant must designate the account in that way.
(iii)     Where omnibus accounts are operated by a Market Participant (e.g. on behalf of another broker), a House Account and Client Account are to be maintained separately at all levels in the chain to the clearing and settlement facility level.
(iv)      A Market Participant must not net off the Client Account against the