ASIC has released regulatory guidance on the market integrity rules for the Australian Securities Exchange Limited derivatives market (ASX 24).
The rules were registered in May 2013 (refer: 13-102MR).
Regulatory Guide 250 Guidance on ASIC market integrity rules for risk management and other requirements: ASX 24 market (RG 250) gives guidance on the obligations of market participants of the ASX 24 market on risk management for house accounts, supervisory policies and procedures, and minimum presence requirements for foreign market participants.
The guidance also explains a waiver ASIC has granted to principal traders – market participants who trade only on their behalf – for certain risk management obligations in circumstances where the principal trader accesses the market as client of another market participant, as their order and position limits are set by that market participant.
ASIC is responsible for supervising domestic licensed financial markets in Australia. As part of its supervisory responsibilities, ASIC makes market integrity rules and monitors market participants’ compliance with the rules.