Document ID: chunk:federal_register_of_legislation:F2024C01108:front:0:p76
Version: federal_register_of_legislation:F2024C01108
Segment Type: other
Provision Reference: 
Character Range: 202283–205095

to one or more Markets until ASIC is satisfied that the Trading Participant complies with the Automated Order Processing Requirements for the relevant Market; or
(b)       immediately suspend, limit or prohibit the conduct of Automated Order Processing in respect of:
 1.          one or more Authorised Persons or clients;
(ii)       Automated Client Order Processing;
(iii)     Automated Order Processing;
(iv)      one or more financial products; or
(v)       one or more Markets,
as required by the direction.

Part 5.7 Manipulative trading

5.7.1 False or misleading appearance
A Market Participant must not make a Bid or Offer for, or deal in, any financial product:
 1.         as Principal:
        1.          with the intention; or
(ii)       if that Bid, Offer or dealing has the effect, or is likely to have the effect,
of creating a false or misleading appearance of active trading in any financial product or with respect to the market for, or the price of, any financial product; or
 1.        on account of any other person where:
        1.          the Market Participant intends to create;
(ii)       the Market Participant is aware that the person intends to create; or
(iii)     taking into account the circumstances of the Order, a Market Participant ought reasonably suspect that the person has placed the Order with the intention of creating,
a false or misleading appearance of active trading in any financial product or with respect to the market for, or the price of, any financial product.

5.7.2 Circumstances of Order
In considering the circumstances of the Order, a Market Participant must have regard to the following matters:
 1.         whether the Order or execution of the Order would be inconsistent with the history of or recent trading in that financial product;
(b)       whether the Order or execution of the Order would materially alter the market for, or the price of, the financial product;
(c)        the time the Order is entered or any instructions concerning the time of entry of the Order;
(d)       whether the person on whose behalf the Order is placed, or another person who the Market Participant knows to be a Related Party of that person, may have an interest in creating a false or misleading appearance of active trading in any financial product or with respect to the market for, or the price of, any financial product;
(e)        whether the Order is accompanied by settlement, delivery or security arrangements which are unusual;
(f)        where the Order appears to be part of a series of Orders, whether when put together with other Orders which appear to make up the series, the Order or the series is unusual having regard to the matters referred to in this Rule 5.7.2;
(g)       whether there appears to be a legitimate commercial reason for that