{"id":"F2018L00571","name":"ASIC Market Integrity Rules (Futures Markets) Determination 2018/315","slug":"asic-market-integrity-rules-futures-markets-determination-2018-315","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439617,"registerId":"F2018L00571-fast-fetch-1775955574053","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Market Integrity Rules (Futures Markets) Determination 2018/315","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC Market Integrity Rules (Futures Markets) Determination 2018/315\n\nI, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 1 May 2018\n\n \n\n \n\n \n\n \n\nAnthony Graham\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc512933793)\n\n[1 Name of legislative instrument](#_Toc512933794)\n\n[2 Commencement](#_Toc512933795)\n\n[3 Authority](#_Toc512933796)\n\n[4 Interpretation](#_Toc512933797)\n\n[Part 2—Determination](#_Toc512933798)\n\n[5 Crossing System codes](#_Toc512933799)\n\n[Schedule 1—Crossing System codes](#_Toc512933800)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Market Integrity Rules (Futures Markets) Determination 2018/315.\n\n2 Commencement\n\nThis instrument commences on the later of:\n\n(a) 7 May 2018; \n\n(b) the day after it is registered on the Federal Register of Legislation.\n\nNote: The register may be accessed at [www.legislation.gov.au](http://www.legislation.gov.au).\n\n3 Authority\n\nThis instrument is made under subrule 5.2.1(5) of the ASIC Market Integrity Rules (Futures Markets) 2017 (Rules). \n\n4 Interpretation \n\n In this instrument, unless the contrary intention appears, capitalised terms have the same meaning as in the Rules.\n\nPart 2—Determination\n\n5 Crossing System codes\n\n For the purposes of subrule 5.2.1(5) of the Rules, the code for identifying a Crossing System described in columns 2 and 3 of the table in Schedule 1 is the code specified in column 4 of the table.\n\n \n\nSchedule 1—Crossing System codes\n\nCrossing System codes\n\n| Column 1 | Column 2 | Column 3 | Column 4 |\n| --- | --- | --- | --- |\n| Item | Operator of Crossing System | Crossing system name | Crossing System code |\n| 1 | ICAP Futures (Australia) Pty Ltd | ICAP Energy Futures Matching | CAP1 |\n| 2 | ICAP Futures (Australia) Pty Ltd | ICAP Equities Volume Matching | CAP2 |\n\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This Determination performs exactly the narrow, technical function it was designed for: assigning identification codes to specific Crossing Systems under the parent Market Integrity Rules. There is no scope creep or expansion beyond the original regulatory purpose of enabling proper trade reporting and surveillance."},"complexity_factors":["Extremely short length (5 sections plus a 2-row table)","Only 2 defined concepts (Crossing System codes and the reference back to parent Rules)","No conditional logic or exceptions","Single operational provision (section 5) with straightforward tabular implementation","No cross-references beyond the enabling subrule and general interpretation clause"],"plain_english_summary":"This short ASIC rule assigns unique 4‑letter reporting codes to two ICAP private crossing systems so trades executed there are identifiable. It affects ICAP, market participants who must use the codes when reporting, and ASIC, which gains clearer data for market surveillance and compliance monitoring."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This determination does not change the substantive scope of the ASIC Market Integrity Rules (Futures Markets). It solely specifies the identification codes to be used for two named Crossing Systems under subrule 5.2.1(5) (s5 and Schedule 1). It does not create new regulatory obligations or expand regulated actors beyond those already covered by the Rules (s3, s4)."},"complexity_factors":["Very narrow substantive scope: simply assigns two codes in Schedule 1 (Schedule 1).","Dependence on external definition and operative rule: relies on terms and effect set by the Rules via the authority clause (s3) and interpretation (s4).","Low compliance burden: requirement is technical adoption of codes for reporting and identification (s5, Schedule 1).","Delegated, administrative instrument: made under a specific subrule of the Rules rather than creating new primary obligations (s3).","Commencement mechanics set timing risk for implementation: later of 7 May 2018 or registration day (s2)."],"plain_english_summary":"This instrument officially assigns identification codes to two crossing systems operated by ICAP Futures (Australia) Pty Ltd for use under the ASIC Market Integrity Rules (Futures Markets). Mechanically, it declares that the table in Schedule 1 supplies the codes required by subrule 5.2.1(5). \n\nIt affects the named operator, market participants and any reporters who must use these codes for compliance and record‑keeping. ASIC presents the change as clarifying identification; the practical effect is administrative standardisation and required adoption of the listed codes."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/asic-market-integrity-rules-futures-markets-determination-2018-315","history":"/api/acts/asic-market-integrity-rules-futures-markets-determination-2018-315/history","analysis":"/api/acts/asic-market-integrity-rules-futures-markets-determination-2018-315/analysis","conflicts":"/api/acts/asic-market-integrity-rules-futures-markets-determination-2018-315/conflicts","importantCases":"/api/acts/asic-market-integrity-rules-futures-markets-determination-2018-315/important-cases","documents":"/api/acts/asic-market-integrity-rules-futures-markets-determination-2018-315/documents"}}