Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p17
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 44117–46977

were executed on, and the person who executed the instructions.

(2) Proprietary Orders

A Market Participant must maintain records of its Representatives' trading for a House Account for a period of not less than five years from the date of a trade, containing the following information:
(a)        the time and date of receipt of instructions;
(b)       the nature of the instructions received;
(c)        the person who received the instructions;
(d)       the time and date of transmission of those instructions, and the person who transmitted the instructions; and
(e)        the time and date of execution of those instructions, the Market those instructions were executed on and the person who executed the instructions.

(3) Error Trades

A Market Participant must maintain a separate record of all Error Trades for a period of not less than five years from the date of a trade, containing the following information:
(a)        a description of the trade including the Market where the trade was executed and the deal number supplied by the relevant Market operator (if any);
(b)       the name of the Representative responsible for the Error Trade;
(c)        the name of the Representative responsible for the execution of the trade;
(d)       a detailed explanation as to how the trade occurred, including details of the original Client Order (if any) which precipitated the error;
(e)        any subsequent action taken by the Market Participant in relation to that trade; and
(f)        the financial result of the trade.
(4) Accounting records
(a)        A Market Participant must maintain such accounting records as correctly record and explain the transactions of the Market Participant and the financial position of the Market Participant.
(b)       In relation to Calls, a Market Participant must at all times maintain such accounting records as accurately indicate in respect of each Call for Initial Margin or Variation Margin made upon Clients:
(i)         the date and time at which such Call was received;
(ii)       the amount of such Call;
(iii)     the extent to which the Call was payable by reason of:
(A)      trading undertaken by the Market Participant on its own account or an account of a related corporation; and
(B)      trading undertaken by the Market Participant for Clients, so that the amount of any such Call is apportioned accordingly;
(iv)      the extent to which the Call was met from:
(A)      monies in the Clients' segregated account; and
(B)      other sources (specifying those sources and the amount satisfied from each such source); and
(c)        the date and time at which such Call was met.

2.2.5 Client documentation
(1) Subject to subrule (2), a Market Participant must have in force, prior to the commencement of trading for a Client, a duly signed agreement with that Client, containing minimum terms