Document ID: chunk:federal_register_of_legislation:F2024C01108:reg:5:p2
Version: federal_register_of_legislation:F2024C01108
Segment Type: reg
Provision Reference: reg 5 (pt 2/35)
Character Range: 304827–307989

for the purposes of Rule 8.1.3.

8.1.3 Requirement to prevent Anomalous Orders from entering Markets
An Operator must have in place adequate controls to prevent Anomalous Orders from entering an Order Book (Relevant Order Book) of its Market at all times on a Trading Day other than a time during which:
(a)        Orders for Relevant Products are not matched and transactions are not executed on a continuous basis on the Relevant Order Book; or
(b)       an Auction is being conducted on the Relevant Order Book.

8.1.4 Requirement to have adequate arrangements in relation to Anomalous Order Thresholds
(1) An Operator must have in place adequate arrangements for:
(a)        determining Anomalous Order Thresholds in accordance with Rule 8.1.1;
(b)       regularly reviewing, and if necessary, amending, the Anomalous Order Threshold for each Relevant Product quoted on its Market, to take into account changes to the matters set out in subrule 8.1.1(5); and
(c)        monitoring, and if necessary, adjusting, the controls referred to in Rule 8.1.3 to ensure that the controls are adequate to prevent Anomalous Orders from entering its Market.
(2) An Operator must notify ASIC in writing:
(a)        of the arrangements that the 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
(b)       each time the 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 an 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 an Operator under subrule (3), the 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) An 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 an Equity Market Product means all prices which are greater than:
(a)        the number of cents set out in the following table; or
(b)       the percentage amount set out in the following table,
as the case may be, away from the Reference Price for the Equity Market Product.

Where Reference Price for Equity Market Product is in the following price range:  Extreme Trade Range (cents or percentage away from Reference Price)
0.1–9.9 cents                                                                     > 10 cents
10–99.5 cents                                                                     > 30 cents
100–199.5 cents                                                                   > 50 cents
200–499 cents                                                                     > 50.0%
500–699 cents                                                                     >