Document ID: chunk:federal_register_of_legislation:F2024C01108:front:0:p51
Version: federal_register_of_legislation:F2024C01108
Segment Type: other
Provision Reference: 
Character Range: 135759–138653

(b)       any employee of the Market Participant;

in respect of transactions in futures contracts dealt on any exchange.

Total Deposits means the sum of subparagraphs (2)(c)(i) to (c)(ix).

Total Futures Client Monies means the total amount of money received from Clients in respect of transactions in futures contracts, including amounts relating to futures contracts traded on any exchange.

Total Third Party Client Monies means:

Total Futures Client Monies less (Associated/Related Company Monies plus Director/Employee Monies)

Variation means:

Total Third Party Client Monies less Total Deposits
(4) A reconciliation referred to in subrule (1) must contain a statement signed by a person with supervisory responsibility for the Market Participant or a person authorised in writing by that person, stating that the signatory believes, and has no reason not to believe, that the reconciliation is accurate in all respects.

3.5.9 Reconciliation of trust accounts
(1) A Market Participant must perform a reconciliation of:
 1.         the aggregate balance held by it at the close of business on each Business Day in clients' trust accounts maintained pursuant to Rule 3.5.1 or 3.5.2 and the corresponding balance as recorded in the Market Participant's accounting records; and
(b)       the balance held by it at the close of business on the last Business Day of each week on trust for each person on whose behalf money is held in a trust account maintained pursuant to Rule 3.5.1 or 3.5.2 and the corresponding balance as recorded in the Market Participant's accounting records,
that:
 1.         is accurate in all respects; and
(d)       contains a statement signed by a person with supervisory responsibility for the Market Participant or a person authorised in writing by that person, stating that the signatory believes, and has no reason not to believe, that the reconciliation is accurate in all respects.

(2) A Market Participant must perform the reconciliation referred to in subrule (1) by 7.00 pm on the Trading Day after the Trading Day to which the reconciliation relates.

3.5.10 Obligation to notify ASIC in respect of reconciliation

A Market Participant must notify ASIC, in writing, within two Business Days if:
 1.         a reconciliation has not been performed in accordance with Rule 3.5.8;
(b)       a reconciliation has not been performed in accordance with Rule 3.5.9;
(c)        according to a reconciliation performed pursuant to Rule 3.5.8, Total Deposits is less than Total Third Party Client Monies; or
(d)       according to a reconciliation performed pursuant to Rule 3.5.9, there is a deficiency of funds in its trust accounts (or, in respect of a reconciliation performed pursuant to paragraph 3.5.9(1)(b), a deficiency in respect of any particular person on whose behalf money is held in the trust account) or if it is unable to reconcile its trust