Document ID: chunk:federal_register_of_legislation:F2024C01109:reg:4:p9
Version: federal_register_of_legislation:F2024C01109
Segment Type: reg
Provision Reference: reg 4 (pt 9/34)
Character Range: 143795–146616

(e)        date funds received.
(5) For the purposes of subrule (3), a Margin Default Register is a document recording, without limitation, the following information in relation to non-receipt of Margin payments:
(a)        Client name;
(b)       amount of the Call;
(c)        time and date of the initial Call and any subsequent Calls;
(d)       details of escalation and other relevant steps taken by the Trading Participant;
(e)        details of whether the Trading Participant closed out the Client's positions and, if not, the reasons why the Trading Participant has not done so, having regard to subrule 7.2.8(3); and
(f)        date and amount of funds received or details of action taken by the Client.

7.2.10 Credit lines
A Trading Participant must not accept credit lines for payment of margins unless:
(a)        the Trading Participant is an Australian ADI and:
(i)         the monies are lent by a separate credit division of the Australian ADI;
(ii)       such monies are lent in accordance with normal credit policy of the Australian ADI; and
(iii)     the facility is used to pay obligations for Initial and Variation Margins and that such obligations are met by actual payment into the clients' segregated account of the Trading Participant through a direct call on the facility; or
(b)       the credit is provided to Clients of the Trading Participant by a related entity of the Trading Participant to meet Initial Margins and Variation Margins and:
(i)         the related entity's core business activity is the provision of credit to Clients; and
(ii)       the related entity is not a subsidiary of the Trading Participant.

7.2.11 Notifying ASIC
(1) A Trading Participant must advise ASIC, in writing, as soon as a Call has not been met by a Client and the Trading Participant has not closed out the Client's positions.
(2) Subject to any reasonable discretion exercised by the Trading Participant in accordance with subrule 7.2.8(3), the notification referred to in subrule (1) must be given as soon as there is any doubt to a reasonable person that the funds will not arrive from the Client.

Chapter 8: Extreme price movements

Part 8.1A Application

8.1A.1 Application of Chapter
(1) This Chapter applies to Market operators.
(2) In this Chapter, Relevant Products means Equity Index Futures and ASX SPI 200 Futures.

Part 8.1 Order entry controls for Anomalous Orders

8.1.1 Requirement to have Anomalous Order Thresholds
(1) A Market operator must determine an Anomalous Order Threshold for each Relevant Product that is quoted on its Market.
(2) A Market operator must notify ASIC in writing of the Anomalous Order Threshold for each Relevant Product that is quoted on its Market, not less than 21 days before first adopting the Anomalous Order Threshold for the purposes of Rule 8.1.3.