Document ID: chunk:federal_register_of_legislation:F2024C01108:reg:5:p1
Version: federal_register_of_legislation:F2024C01108
Segment Type: reg
Provision Reference: reg 5 (pt 1/2)
Character Range: 224803–228023

5     Aggregation and other Crossing Systems  If Orders may be executed or matched in another Crossing System because they are transmitted by the Market Participant or by the Market Participant's Crossing System:
                                                (a) to one or more other Crossing Systems or to a Market Participant that operates a Crossing System; or
                                                (b) to another person (an Aggregator) who further transmits the Orders to one or more other Crossing Systems or to a Market Participant that operates a Crossing System; or
                                              if Orders may be executed or matched in the Market Participant's Crossing System with Orders received (whether directly, or via an Aggregator) from a Crossing System operated by another Market Participant, or from a Market Participant that operates a Crossing System:
                                                (c) the code identifying the other Crossing System;
                                                (d) the legal name of the Market Participant that operates the other Crossing System; and
                                                (e) for each Crossing System and Market Participant identified under paragraphs (c) and (d), whether Orders are transmitted to, or received from the other Crossing System or Market Participant (whether directly, or via an Aggregator), or both.

     Note: An Aggregator may be, for example, another Market Participant that receives orders and operates an aggregation algorithm that transmits received orders to one or more other execution venues (licensed markets, or other Crossing Systems).
(3) A Market Participant must, within one business day of implementing changes to the operation of the Crossing System described in the Publicly Available Crossing System Information, update the website where the Publicly Available Crossing System Information is made available, to reflect those changes.
(4) A Market Participant must give ASIC a copy of:
(a)        the Publicly Available Crossing System Information made available under subrule (1); and
(b)       each update to the Publicly Available Crossing System Information made available under subrule (3),
within one business day of making that information available on the website under this Rule.

(5) ASIC may determine in writing a list of the Crossing System codes referred to in subrule (2).
Note: Instruments made under subrule (5) are available on the Federal Register of Legislation. The register may be accessed at www.legislation.gov.au.

5A.2.2 Disclosure requirements for Crossing Systems—Information for users

(1) A Market Participant that operates a Crossing System must:

(a)        prior to accepting an Order from a client for the first time after the time at which a Market Participant must comply with this Rule, provide the client with a copy of the Publicly Available Crossing System Information or inform the client of the website address where that information is available; and

(b)       for all clients who have been provided with a copy of the Publicly Available Crossing System Information or informed of the website address where that information