Document ID: chunk:federal_register_of_legislation:F2024C01108:reg:6:p4
Version: federal_register_of_legislation:F2024C01108
Segment Type: reg
Provision Reference: reg 6 (pt 4/8)
Character Range: 255808–258608

as Principal on the other side; and
(c)        the consideration for the transaction is greater than $0.
(2) For the purposes of this Rule, the Best Mid-Point is not limited to standard Price Steps for the Relevant Product.

6.2.4 Exception—Permitted Trades during the Post-Trading Hours Period

In these Rules, Permitted Trade during the Post-Trading Hours Period means a transaction in a Relevant Product during the Post-Trading Hours Period in relation to that Relevant Product:
(a)        that completes an Order received prior to the end of Trading Hours for the Market (and, if there is an Auction at the end of Trading Hours, prior to that Auction);
(b)       that comprises a bona fide hedge;
(c)        if there is an Auction at the end of Trading Hours for a Market, that completes an Order that narrowly missed execution during that Auction;
(d)       that rectifies an error; or
(e)        that results in the Relevant Products the subject of the transaction being sold by a nominee that holds those Relevant Products on behalf of a Funds Manager to another nominee that holds those Relevant Products on behalf of the same Funds Manager, and where the Relevant Participant acts for both clients.

6.2.5 Exception—Permitted Trades during the Pre-Trading Hours Period

In these Rules, Permitted Trade during the Pre-Trading Hours Period means a transaction in a Relevant Product during the Pre-Trading Hours Period in relation to that Relevant Product where:
(a)        the Relevant Participant acts:
(i)         on behalf of both buying and selling clients to that transaction; or
(ii)       on behalf of a buying or selling client on one side of that transaction and as Principal on the other side; and
(b)       either:
(i)         overseas resident clients are involved in both sides of the transaction; or
(ii)       an overseas resident client is involved in one side and the Relevant Participant is acting as Principal on the other side of the transaction; and
(c)        a stock market maintained by a Recognised Stock Exchange either:
(i)         in the overseas client's country of residence; or
(ii)       if both sides of the transaction involve overseas resident clients, in the country of residence of one of those clients,
is open for trading at that time.

6.2.6 Exception—Out of Hours Trade

In these Rules, Out of Hours Trade means a transaction in a Relevant Product entered into by a Relevant Participant:
(a)        during the period after the Post-Trading Hours Period in relation to that Relevant Product on a Trading Day and before the Pre-Trading Hours Period in relation to that Relevant Product on the next Trading Day; and
(b)       if the transaction is entered into on behalf of a client, where the relevant Order was received from the client during the period