Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p7
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 18753–21500

Market operator in relation to its Market, and held by a Market Participant against a Client's liability from time to time.

Cross or Crossing, means a transaction in respect of which a Market Participant acts:

 1.         on behalf of both buying and selling clients to that transaction; or

(b)       on behalf of a buying or selling client on one side of that transaction and as Principal on the other side.

Crossing System means any automated service provided by a Market Participant which matches or executes client Orders with Orders of:

 1.         the Market Participant;

(b)       other clients of the Market Participant; or

(c)        any other person whose Orders access the automated service;

otherwise than on an Order Book.

Crossing System Initial Report has the meaning given by Rule 5.1.1.

Crossing System Monthly Report has the meaning given by Rule 5.1.2.
Employee, in relation to a Market Participant, includes a director, employee, officer, agent, Representative, consultant or adviser of that Market Participant, or an independent contractor who acts for or by arrangement with a Market Participant.
Equity Index Future means a Futures Market Contract over a market index, where that market index is comprised of more than one Equity Market Product.
Equity Market Product means:
 1.         a share in a body;
(b)       a financial product referred to in subparagraph 764A(1)(b)(i) or subparagraph 764A(1)(ba)(i) of the Corporations Act; or
(c)        a right (whether existing or future and whether contingent or not) to acquire, by way of issue, the following under a rights issue:
 1.          a share covered by paragraph (a); or
(ii)       a financial product covered by paragraph (b); or
(d)       a CHESS Depositary Interest,
admitted to quotation on the ASX Market or admitted to quotation on the Chi-X Market under the Chi-X Market operating rules, but does not include a CGS Depository Interest.
Error Trade means a trade transacted in error.
ETR Event means when:
(a)        an Order to buy an Equity Index Future or an ASX SPI 200 Future for which the Bid price is both above the Reference Price and in the Extreme Trade Range for the Equity Index Future or ASX SPI 200 Future (as applicable); or
(b)       an Order to sell an Equity Index Future or an ASX SPI 200 Future, for which the Offer price is both below the Reference Price and in the Extreme Trade Range for the Equity Index Future or ASX SPI 200 Future (as applicable),
is received by a Market operator and is not prevented from entering the relevant Market by the controls the Market operator has in place to comply with Rule 8.1.3.
Note: Under Rule 8.2.2B, an ETR Event occurs on a Market in the circumstances described in this definition