Document ID: chunk:federal_register_of_legislation:F2024C01108:reg:4:p1
Version: federal_register_of_legislation:F2024C01108
Segment Type: reg
Provision Reference: reg 4 (pt 1/6)
Character Range: 231120–233928

4        Fees                 The fees imposed for Orders to gain access to the Crossing System, or to be matched or executed in the Crossing System, and an indication whether those fees differ from (e.g. by being in addition to) the Market Participant's standard fees.

5A.2.3 Notification of Crossing System outages

(1) If technical or other system issues materially affect the efficiency of or proper functioning of a Crossing System operated by a Market Participant, that Participant must provide the following information, in writing, to ASIC and all users with Orders in the Crossing System other than users who are retail clients:
(a)        a description of the effect of the technical or other system issues;
(b)       how the technical or other system issues are being managed by the Market Participant;
(c)        any alternative arrangements for users' Orders that have been put in place by the Market Participant while the technical or other systems issues persist; and
(d)       when the technical or other system issues have been resolved,

as soon as practicable after the technical or other system issue arises, or the issue is resolved, as applicable.

Part 5A.3 Fair treatment, fairness and priority in dealing and opting out by users of Crossing Systems

5A.3.1  Fair treatment of all users of a Crossing System
(1) A Market Participant that operates a Crossing System must ensure that the Crossing System is operated by a common set of procedures that balance the interests of all users of the Crossing System and do not unfairly discriminate between users of the Crossing System.
(2) Subrule (1) does not prevent a Market Participant that operates a Crossing System from providing less favourable treatment for its own use of the Crossing System, or less favourable treatment for use of the Crossing System by its related bodies corporate.

5A.3.2 Fairness and priority in dealing
A Market Participant that operates a Crossing System must ensure that the Crossing System deals fairly and in due turn with:
(a)        Clients' Orders; and
(b)       a Client Order and an Order of the Participant trading as Principal.

5A.3.3 Relevant factors
(1) In considering whether Rule 5A.3.2 has been complied with, the following factors are relevant:
(a)        the Market Participant acts in accordance with its instructions;
(b)       Orders that do not involve the exercise of discretion by the Market Participant in relation to the time or price or quantity of the Order are entered in the Crossing System in the sequence in which they are received, and otherwise as expeditiously as practicable;
(c)        Orders of a client (which is not a Prescribed Person) that involve the exercise of discretion by the Market Participant in relation to the time or price or quantity of the Order are