{"id":"F2013L01603","name":"ASIC Class Rule Waiver [CW 13/972]","slug":"asic-class-rule-waiver-cw-13-972","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":91411,"registerId":"commonwealth-F2013L01603-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Rule Waiver [CW 13/972]","content":"Australian Securities and Investments Commission  \nASIC Market Integrity Rules (ASX 24 Market) 2010 –\n\nSubrule 1.2.1(1) – Class Rule Waiver\n\nEnabling provision\n\n1.  The Australian Securities and Investments Commission (ASIC) makes this instrument under subrule 1.2.1(1) of the ASIC Market Integrity Rules (ASX 24 Market) 2010 (the ASX 24 Rules).\n\nTitle\n\n2. This instrument is ASIC Class Rule Waiver \\[CW 13/972\\].\n\nCommencement\n\n3. This instrument commences on the date it is registered under the Legislative Instruments Act 2003.\n\nNote: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, section 4 (definition of register). The FRLI may be accessed at http://www.frli.gov.au/.\n\nWaiver\n\n4. ASIC relieves a Principal Trader from the obligation to comply with Rules 2.2.1(1)(ab), (b), (c) and (e) of the ASX 24 Rules, in the case where the Principal Trader is a Client of another Market Participant (the Second Market Participant) and the Second Market Participant either:\n\n(a) permits the Principal Trader to connect to a Terminal for the purposes of Trading for the Principal Trader’s House Account; or\n\n(b) enters Orders on the Principal Trader’s House Account into the Trading Platform through the Second Market Participant’s Order System.\n\nInterpretation\n\n5. In this instrument, unless the contrary intention appears, capitalised terms have the meaning given by the ASX 24 Rules.\n\nDated this 19th day of August 2013\n\nSigned by Greg Yanco\n\nas a delegate of the Australian Securities and Investments Commission","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2416},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This is the original instrument as made on 19 August 2013. The provided text shows no amendments, variations, or expansions beyond the initial grant of relief to Principal Traders operating through Second Market Participants."},"complexity_factors":["Single operative provision (section 4) granting the waiver","Only 5 clauses total, under 300 words","Simple conditional logic: relief applies if condition A AND (condition B OR condition C)","All technical terms defined by reference to parent ASX 24 Rules only","No nested exceptions or legislative cross-references beyond the enabling provision"],"plain_english_summary":"This waiver lets proprietary derivatives traders (Principal Traders) skip certain Market Integrity Rules about trading infrastructure and supervision when they trade through another broker that either gives them direct terminal access to the broker’s house account or places orders on their behalf using the broker’s order systems. \n\nIt reduces duplicate compliance where the broker’s oversight already applies, affecting Principal Traders and the brokers providing that market access."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-rule-waiver-cw-13-972","history":"/api/acts/asic-class-rule-waiver-cw-13-972/history","analysis":"/api/acts/asic-class-rule-waiver-cw-13-972/analysis","conflicts":"/api/acts/asic-class-rule-waiver-cw-13-972/conflicts","importantCases":"/api/acts/asic-class-rule-waiver-cw-13-972/important-cases","documents":"/api/acts/asic-class-rule-waiver-cw-13-972/documents"}}