{"id":"F2023L01116","name":"ASIC Regulated Foreign Markets Determination 2023/346","slug":"asic-regulated-foreign-markets-determination-2023-346","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":442039,"registerId":"F2023L01116-fast-fetch-1775957165917","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Regulated Foreign Markets Determination 2023/346","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.png)\n\nASIC Regulated Foreign Markets Determination 2023/346\n\nI, Benjamin Cohn-Urbach, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 25 August 2023\n\n \n\n \n\nBenjamin Cohn-Urbach\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc143847405)\n\n[1 Name of legislative instrument](#_Toc143847406)\n\n[2 Commencement](#_Toc143847407)\n\n[3 Authority](#_Toc143847408)\n\n[4 Definitions](#_Toc143847409)\n\n[Part 2—Determination](#_Toc143847410)\n\n[5 Determination](#_Toc143847411)\n\n[Part 3—Notice of Withdrawal](#_Toc143847412)\n\n[6 Notice of Withdrawal](#_Toc143847413)\n\n[Part 4—Repeal](#_Toc143847414)\n\n[7 Repeal](#_Toc143847415)\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Regulated Foreign Markets Determination 2023/346.\n\n2 Commencement\n\n(1) This instrument (other than section 5) commences on 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\n(2) Subsections 5(1) and (3) commence on 21 December 2022.\n\n(3) Subsection 5(2) commences on 21 October 2024.\n\n3 Authority\n\nThis instrument is made under subrules 1.2.4(3) and (5) of the ASIC Derivative Transaction Rules (Reporting) 2022 and subrules 1.2.4(3) and (5) of the ASIC Derivative Transaction Rules (Reporting) 2024.\n\n4 Definitions\n\nIn this instrument:\n\n2022 Rules means the ASIC Derivative Transaction Rules (Reporting) 2022 and from.\n\n2024 Rules means the ASIC Derivative Transaction Rules (Reporting) 2024.\n\nSEC Regulated Market means a financial market which is registered with the Securities and Exchange Commission of the United States of America as a national securities exchange under section 6 of the Securities Exchange Act of 1934 of the United States of America.\n\nUK Regulated Market means a regulated market which is a recognised investment exchange under section 285 of the United Kingdom Financial Services and Markets Act 2000, but not an overseas investment exchange within the meaning of section 313(1) of that Act.\n\n  \n\nPart 2—Determination\n\n5 Determination\n\nRegulated Foreign Markets\n\n(1) The financial markets specified in subsection (3) are Regulated Foreign Markets for the purposes of subrule 1.2.4(3) of the 2022 Rules.\n\n(2) The financial markets specified in subsection (3) are Regulated Foreign Markets for the purposes of subrule 1.2.4(3) of the 2024 Rules.\n\n(3) The following financial markets are specified in this subsection:\n\n(a) the BM&FBOVESPA Segment of B3 - Brasil Bolsa Balcão S.A;\n\n(b) Borsa Istanbul – Futures and Options Market;\n\n(c) Bourse de Montreal;\n\n(d) BSE Limited (Bombay Stock Exchange);\n\n(e) Bursa Malaysia Derivatives Market;\n\n(f) China Financial Futures Exchange;\n\n(g) CME Globex;\n\n(h) Dalian Commodity Exchange;\n\n(i) Dubai Gold & Commodities Exchange;\n\n(j) Dubai Mercantile Exchange;\n\n(k) EPEX Spot SE;\n\n(l) the financial market operated by Hong Kong Futures Exchange Limited;\n\n(m) HUPX Ltd Hungarian Power Exchange;\n\n(n) ICE Futures Canada;\n\n(o) the following financial markets operated by the Johannesburg Stock Exchange:\n\n(i) JSE Commodity Derivatives Market;\n\n(ii) JSE Currency Derivatives Market;\n\n(iii) JSE Equity Derivatives Market;\n\n(iv) JSE Interest Rate Derivatives Market;\n\n(p) Korea Exchange;\n\n(q) Mexican Derivatives Exchange;\n\n(r) Moscow Exchange – Derivatives Market;\n\n(s) National Stock Exchange of India;\n\n(t) NZX Derivatives Market;\n\n(u) Osaka Exchange;\n\n(v) Power Exchange Central Europe;\n\n(w) an SEC Regulated Market;\n\n(x) Shanghai Futures Exchange;\n\n(y) Singapore Exchange Derivatives;\n\n(z) the financial market operated by The Stock Exchange of Hong Kong Limited;\n\n(aa) Taiwan Futures Exchange;\n\n(bb) Tel Aviv Stock Exchange;\n\n(cc) Thailand Futures Exchange as part of Stock Exchange of Thailand;\n\n(dd) Tokyo Commodity Exchange;\n\n(ee) Tokyo Financial Exchange;\n\n(ff) Tokyo Stock Exchange;\n\n(gg) Toronto Stock Exchange;\n\n(hh) a UK Regulated Market.\n\n \n\n\n\n\nPart 3—Notice of Withdrawal\n\n6 Notice of Withdrawal\n\n(1) To the extent it is still in force, ASIC Regulated Foreign Markets Determination [OTC DET 13/1145] is withdrawn at the start of the day that is one month after the day this instrument is registered on the Federal Register of Legislation.\n\n(2) The determination in subsection 5(1) is withdrawn at the start of 21 October 2024.\n\n(3) The determination in subsection 5(2) is withdrawn at the start of 1 April 2033.\n\nPart 4—Repeal\n\n7 Repeal\n\n(1) To the extent it has not already been repealed, ASIC Regulated Foreign Markets Determination [OTC DET 13/1145] is repealed at the start of the day that is one month after the day this instrument is registered on the Federal Register of Legislation.  \n\n(2) Subsection 5(1) is repealed at the start of 21 October 2024.\n\n(3) This instrument is repealed at the start of 1 April 2033.\n\n \n\n \n","sortOrder":0}],"analysis":{"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"},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The instrument maintains its original narrow purpose: designating specific foreign markets as 'regulated' for derivative reporting exemptions. The scope has not expanded beyond this specific administrative function."},"complexity_factors":["Short length (7 sections, ~2 pages)","Minimal defined terms (only 4 definitions in section 4)","Simple list structure in section 5 with 33 named markets plus 2 broad categories (SEC and UK regulated markets)","Straightforward commencement and repeal provisions with specific dates","No nested exceptions or conditional logic beyond date-based triggers","Clear cross-references to the enabling rules (ASIC Derivative Transaction Rules 2022 and 2024)"],"plain_english_summary":"This ASIC instrument names 33 overseas exchanges (plus US SEC‑registered exchanges and UK regulated markets) as \"Regulated Foreign Markets.\"  \n\nThat designation lets Australian firms trading derivatives on those venues access reporting exemptions, reducing compliance burdens. It also withdraws a 2013 determination and sets staged expiry dates for parts of the instrument (some in Oct 2024, full expiry Apr 2033)."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This instrument withdraws and repeals the earlier ASIC Regulated Foreign Markets Determination [OTC DET 13/1145] and substitutes a specified list of Regulated Foreign Markets (s5(3)), with staggered commencement and withdrawal dates (s2; s6; s7). That alters which overseas venues trigger Australian derivative‑reporting duties under the 2022 and 2024 Rules and therefore changes the scope of reporting obligations."},"complexity_factors":["Simple mechanic: nominates a list of overseas markets as \"Regulated Foreign Markets\" (s5(3)).","References and interaction with two versions of the Reporting Rules (2022 and 2024) requiring cross‑rule reading (s3).","Staggered commencement, withdrawal and repeal dates add timeline complexity (s2; s6; s7).","Includes both specific exchanges and catch‑all categories (e.g. SEC Regulated Market; UK Regulated Market), creating potential interpretive scope (Definitions; s5(3)).","Effect is administrative (reporting obligation trigger) rather than substantive market regulation, so operational compliance burdens matter more than novel legal tests."],"plain_english_summary":"This instrument, made by an ASIC delegate, names a specific list of overseas exchanges as \"Regulated Foreign Markets\" for the ASIC Derivative Transaction Rules (Reporting) 2022 and 2024, so firms that must report derivative transactions will treat trades linked to those venues as falling inside Australia’s reporting regime (s3; s5(1)–(3)).\n\nIt sets different commencement, withdrawal and repeal dates and replaces an earlier determination, changing which foreign venues create Australian reporting duties and thereby shifting compliance, record‑keeping and reporting costs onto affected counterparties and reporting entities (s2; s6–7)."}},"importantCases":[],"_links":{"self":"/api/acts/asic-regulated-foreign-markets-determination-2023-346","history":"/api/acts/asic-regulated-foreign-markets-determination-2023-346/history","analysis":"/api/acts/asic-regulated-foreign-markets-determination-2023-346/analysis","conflicts":"/api/acts/asic-regulated-foreign-markets-determination-2023-346/conflicts","importantCases":"/api/acts/asic-regulated-foreign-markets-determination-2023-346/important-cases","documents":"/api/acts/asic-regulated-foreign-markets-determination-2023-346/documents"}}