{"id":"F2025L00937","name":"ASIC Market Integrity Rules (Futures Markets) Class Waiver 2025/513","slug":"asic-market-integrity-rules-futures-markets-class-waiver-2025-513","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":106681,"registerId":"commonwealth-F2025L00937-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Market Integrity Rules (Futures Markets) Class Waiver 2025/513","content":"![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Market Integrity Rules (Futures Markets) Class Waiver 2025/513\n\nI, Andrew James Templer, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\nDate 14 August 2025\n\nAndrew James Templer\n\nContents\n\nPart 1—Preliminary 3\n\n1 Name of legislative instrument....................................3\n\n2 Commencement...............................................3\n\n3 Authority....................................................3\n\n4 Definitions...................................................3\n\nPart 2—Waiver 6\n\n5 Market operators..............................................6\n\n6 Market Participants............................................6\n\nPart 3—Repeal 6\n\n7 Repeal of this instrument........................................6\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Market Integrity Rules (Futures Markets) Class Waiver 2025/513.\n\n2 Commencement\n\nThis instrument commences on the day after it is registered on the Federal Register of Legislation.\n\n> Note: The register may be accessed at www.legislation.gov.au.\n\n3 Authority\n\nThis instrument is made under subrule 1.2.1(1) of the ASIC Market Integrity Rules (Futures Markets) 2017.\n\n4 Definitions\n\n(1) In this instrument, unless the contrary intention appears, capitalised terms have the same meaning as in the Rules.\n\n(2) In this instrument:\n\nBusiness Continuity Plans:\n\n(a) in relation to a Market operator—has the meaning given by Rule 8A.5.1 of the Rules; and\n\n(b) in relation to a Market Participant—has the meaning given by Rule 8B.4.1 of the Rules.\n\nCarriage Service means a service for carrying communications by means of guided and/or unguided electromagnetic energy.\n\nCommunications Service means a service that involves:\n\n(a) supplying a Carriage Service; or\n\n(b) owning or operating assets that are used in connection with the supply of a Carriage Service.\n\nCritical Business Services:\n\n(a) in relation to a Market operator—has the meaning given by Rule 8A.1.2 of the Rules; and\n\n(b) in relation to a Market Participant—has the meaning given by Rule 8B.1.2 of the Rules.\n\nEnergy Service means a service that involves:\n\n(a) the production, transmission, distribution or supply of electricity; or\n\n(b) the production, processing, transmission, distribution or supply of gas; or\n\n(c) the production, processing, transmission, distribution or supply of liquid fuel.\n\nMarket operator has the same meaning as in Rule 8A.1.1 of the Rules.\n\nMarket operator Waived Rules means following provisions of Chapter 8A of the Rules:\n\n(a) subparagraph 8A.3.3(1)(b)(ii);\n\n(b) subparagraph 8A.3.3(1)(b)(iv);\n\n(c) paragraph 8A.3.3(1)(c);\n\n(d) paragraph 8A.3.3(1)(d);\n\n(e) paragraph 8A.3.3(1)(f);\n\n(f) paragraph 8A.3.3(1)(g);\n\n(g) paragraph 8A.3.3(1)(h);\n\n(h) subrule 8A.3.3(3) to the extent it applies in relation to paragraph 8A.3.3(1)(a).\n\nMarket Participant has the same meaning as in Rule 8B.1.1 of the Rules.\n\nMarket Participant Waived Rules means the following provisions of Chapter 8B of the Rules:\n\n(a) subparagraph 8B.2.3(1)(b)(ii);\n\n(b) subparagraph 8B.2.3(1)(b)(iv);\n\n(c) paragraph 8B.2.3(1)(c);\n\n(d) paragraph 8B.2.3(1)(d);\n\n(e) paragraph 8B.2.3(1)(f);\n\n(f) paragraph 8B.2.3(1)(g);\n\n(g) paragraph 8B.2.3(1)(h);\n\n(h) subrule 8B.2.3(3) to the extent it applies in relation to paragraph 8B.2.3(1)(a).\n\nOutsourcing Arrangement:\n\n(a) in relation to a Market operator—has the meaning given by Rule 8A.1.2 of the Rules; and\n\n(b) in relation to a Market Participant—has the meaning given by Rule 8B.1.2 of the Rules.\n\nPartially Exempt Outsourcing Arrangement means an arrangement that is an Outsourcing Arrangement in relation to a Market operator or a Market Participant only because the Service Provider provides one or both of the following services:\n\n(a) Communications Services;\n\n(b) Energy Services.\n\nRules means the ASIC Market Integrity Rules (Futures Markets) 2017.\n\nService Provider:\n\n(a) in relation to a Market operator—has the meaning given by Rule 8A.1.2 of the Rules; and\n\n(b) in relation to a Market Participant—has the meaning given by Rule 8B.1.2 of the Rules.\n\nPart 2—Waiver\n\n5 Market operators\n\nA Market operator does not have to comply with the Market operator Waived Rules in relation to a Partially Exempt Outsourcing Arrangement.\n\n    Note: A Market operator must still comply with the other provisions of Chapter 8A of the Rules in relation to the Partially Exempt Outsourcing Arrangement. For example, the Market operator must have adequate arrangements to ensure compliance with the Act and the Rules in a manner that is appropriate for the Outsourcing Arrangement: paragraph 8A.3.3(1)(e) and subrule 8A.3.3(2) of the Rules.\n\n6 Market Participants\n\nA Market Participant does not have to comply with the Market Participant Waived Rules in relation to a Partially Exempt Outsourcing Arrangement.\n\n    Note: A Market Participant must still comply with the other provisions of Chapter 8B of the Rules in relation to the Partially Exempt Outsourcing Arrangement. For example, the Market Participant must have adequate arrangements to ensure compliance with the Act and the Rules in a manner that is appropriate for the Outsourcing Arrangement: paragraph 8B.2.3(1)(e) and subrule 8B.2.3(2) of the Rules.\n\nPart 3—Repeal\n\n7 Repeal of this instrument\n\nThis instrument is repealed at the start of 30 July 2030.","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This instrument narrows the practical scope of Chapters 8A and 8B by exempting market operators and participants from specified detailed outsourcing and business‑continuity duties when the outsourced services are limited to communications or energy (a 'Partially Exempt Outsourcing Arrangement'). It does not expand obligations; instead it reduces compliance scope for affected firms until the instrument's repeal on 30 July 2030. The change shifts compliance burden away from those firms (lowering internal compliance costs) and increases reliance on service providers and regulator oversight to manage operational risk."},"complexity_factors":["Cross-references to the ASIC Market Integrity Rules (Futures Markets) 2017 (Chapters 8A and 8B) instead of standalone obligations increase interpretive work.","List of specific waived subrules (selected subparagraphs and paragraphs of 8A.3.3 and 8B.2.3) requires checking multiple provisions to see what is removed versus retained.","Definition-driven scope: the waiver applies only to 'Partially Exempt Outsourcing Arrangement' (outsourcing that is only for Communications Services or Energy Services), so determining eligibility depends on factual characterisation of services.","Residual obligations remain (notes point to continued compliance with other Chapter provisions), creating a split obligation picture that must be reconciled operationally.","Temporal limit (repeal at start of 30 July 2030) requires ongoing tracking and potential future transition planning.","Terminology and thresholds (e.g. what counts as a Communications Service, owning/operating assets used in supply, or Energy Service) may generate borderline cases and require legal interpretation.","Instrument issued by an ASIC delegate under subrule 1.2.1(1) — administrative discretion and delegated decision-making are implicated."],"plain_english_summary":"This instrument makes a time-limited class waiver that lets futures market operators and participants skip specified detailed outsourcing and business‑continuity requirements when the only outsourced services are communications or energy services. It narrows which Chapter 8A/8B provisions apply but leaves other prudential and compliance duties in place. It matters because it reduces compliance tasks and costs for firms using telecoms or energy providers, while shifting reliance and oversight onto those service providers and regulators."},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"This instrument maintains its original narrow purpose. It provides targeted, time-limited relief from specific operational resilience requirements for outsourcing arrangements involving communications and energy services. The scope has not expanded beyond this specific regulatory relief mechanism."},"complexity_factors":["Heavy reliance on external definitions—14 defined terms in section 4, most of which simply point to definitions in the underlying ASIC Market Integrity Rules (Futures Markets) 2017","Nested conditional logic—the waiver only applies to 'Partially Exempt Outsourcing Arrangements', which are themselves defined as arrangements that are outsourcing arrangements 'only because' the provider supplies communications or energy services","Parallel structure requiring cross-referencing—separate but nearly identical definitions and waiver provisions for Market operators (Chapter 8A) and Market Participants (Chapter 8B)","Precise enumeration of waived provisions—8 specific subparagraphs and paragraphs listed for each entity type, requiring reference back to the parent Rules to understand what is actually being waived","Partial waiver mechanics—subrule (3) waivers are limited 'to the extent' they apply in relation to specific paragraphs, creating a conditional exception within an exception"],"plain_english_summary":"Temporary exemption lets futures market operators and participants waive specific regulatory outsourcing requirements when contracting only communications (internet/telecom) or energy (power/gas/fuel) service providers. It affects exchanges, trading firms, and those service providers by reducing overlapping resilience and contractual compliance obligations.\n\nASIC keeps firms responsible for overall legal compliance and adequate arrangements; the relief automatically expires 30 July 2030 while ASIC assesses longer-term policy."}},"importantCases":[],"_links":{"self":"/api/acts/asic-market-integrity-rules-futures-markets-class-waiver-2025-513","history":"/api/acts/asic-market-integrity-rules-futures-markets-class-waiver-2025-513/history","analysis":"/api/acts/asic-market-integrity-rules-futures-markets-class-waiver-2025-513/analysis","conflicts":"/api/acts/asic-market-integrity-rules-futures-markets-class-waiver-2025-513/conflicts","importantCases":"/api/acts/asic-market-integrity-rules-futures-markets-class-waiver-2025-513/important-cases","documents":"/api/acts/asic-market-integrity-rules-futures-markets-class-waiver-2025-513/documents"}}