Document ID: chunk:federal_register_of_legislation:F2024C01109:reg:4:p11
Version: federal_register_of_legislation:F2024C01109
Segment Type: reg
Provision Reference: reg 4 (pt 11/34)
Character Range: 149027–151870

Market operator must notify ASIC in writing:
 1.         of the arrangements that the Market operator has in place under paragraph (1)(a), not less than 21 days before first adopting an Anomalous Order Threshold for the purposes of Rule 8.1.3 in accordance with those arrangements; and
 2.        each time a Market operator revises the arrangements it has in place under paragraph (1)(a), not less than two business days before adopting the revised arrangements for the purposes of paragraph (1)(a).
(3) ASIC may notify a Market operator that its arrangements for determining Anomalous Order Thresholds under paragraph (1)(a) are not appropriate to promote market integrity or a fair, orderly or transparent market.
(4) If ASIC notifies a Market operator under subrule (3), that Market operator must, as soon as practicable, revise its arrangements and notify ASIC in writing of the revised arrangements not less than two business days before adopting them for the purposes of paragraph (1)(a).
(5) A Market operator must record in writing the arrangements required by subrule (1).

Part 8.2 Extreme Trade Range

8.2.1 Extreme Trade Range
(1) The Extreme Trade Range for the ASX SPI 200 Future means all prices which are greater than 5% away from the Reference Price for the ASX SPI 200 Future.
(2) The Extreme Trade Range for an Equity Index Future means all prices which are greater than 5% away from the Reference Price for the Equity Index Future.

8.2.2 Obligation on Market operator to determine and notify Reference Price
(1) The Responsible Market Operator must determine a Reference Price for each Relevant Product after each Trading Reset, as follows:
 1.         if there is an Auction in the Relevant Product after the Trading Reset and before the first transaction after a Trading Reset, the price established by the Auction;
 2.        if:
        1.          the Responsible Market Operator determines, acting reasonably, that the price established by the Auction referred to in paragraph (a) is Invalid;
        2.        the Auction referred to in paragraph (a) does not establish a price; or
        3.      there is no Auction in the Relevant Product after the Trading Reset and before the first transaction after a Trading Reset;
 1.         the price of the first transaction after a Trading Reset; or
 2.        if paragraph (b) applies and the price of the first transaction after a Trading Reset is Invalid, a price determined by the Responsible Market Operator, acting reasonably, to be not Invalid.
(2) The Responsible Market Operator must, each time it determines a Reference Price for a Relevant Product in accordance with subrule (1), immediately:
 1.         use the Reference Price to determine the Extreme Trade Range for the Relevant Product in accordance with Rule 8.2.1, until the next Trading Reset for the