(1) This Rule applies to a Market Participant who receives instructions to enter into a Market transaction on behalf of a person (the Client), whether or not a Trading Message corresponding to those instructions is entered into or matched on a Trading Platform of a Market.
(2) Subject to Rule 4.1.7, in addition to complying with the requirements of the Corporations Act to the extent that those requirements apply to dealing in the relevant Market, the Market Participant must maintain sufficiently detailed records showing:
particulars of the instructions, including, without limitation:
the financial product to be bought or sold;
(ii) the number thereof;
(iii) any price or time related instructions;
(iv) any time limit on the instructions;
(v) the date and time the Market Participant received the instructions;
(vi) instructions or decisions to purchase or sell financial products pursuant to a Managed Discretionary Account (including, without limitation, the financial products to be bought or sold and the number thereof, any price or time related instructions or decisions and the name of the person who generated the instruction or made the decision), whether the instruction or decision was executed or not; and
(vii) the authority of the Client, if any, for accumulation and price averaging under Rule 3.4.2;
(b) the name of the Client;
(c) the name of the person who gave the instructions (or, if the Trading Message was received by Automated Order Processing, the information set out in Rule 5.5.3);
(d) any amendment of any kind to the instructions or Trading Message (including, without limitation, cancellation of an instruction or Trading Message, variation of the number of financial products to be bought or sold or variation of any price or time related instructions) including the date and time of any amendment to the instructions or Trading Message;
(e) the name of the person who received the instruction (or, if the Trading Message was received by Automated Order Processing, the information set out in Rule 5.5.3);
(f) the name of any other person who passed the instruction on between the person who initially received the instruction, and the Trading Platform and the date and time they passed it;
(g) the name of the DTR who entered a Trading Message into a Trading Platform (or, if the Trading Message was submitted by Automated Order Processing, the information set out in Rule 5.5.3);
(h) the time the DTR entered a Trading Message into a Trading Platform (or if the Trading Message was submitted by Automated Order Processing, the time at which the Trading Message was initiated by the Open Interface Device);
(i) if the Trading Message gives rise to a Market transaction, the date, time and Market on which that occurs; and
(j) if applicable, the Derivatives Market Contracts arising from instructions that are nominated for accumulation and price averaging under the Clearing Rules.
4.1.2 Records of dealings on Own Account
(1) This Rule applies to a Market Participant that makes a decision, or gives instructions to, enter into a Market transaction on its Own Account, whether or not the Market transaction is executed.
(2) Subject to Rule 4.1.8, the Market Participant must, in addition to complying with the requirements of the Corporations Act to the extent that those requirements apply to dealing in the relevant Market, maintain sufficiently detailed records showing:
particulars of the decision or instructions, including, without limitation:
the name of the person who generated the instruction or made the decision;
(ii) the financial products to be bought or sold;
(iii) the number thereof;
(iv) any price or time related instructions or decisions; and
(v) any time limit on the instruction;
(b) any amendment of any kind to the instructions or Trading Message (including, without limitation, cancellation of an instruction or Trading Message, variation of the number of financial products to be bought or sold or variation of any price or time related instructions), including the date and time of any amendment to the instruction or Trading Message;
(c) the name of any other person who passed the instruction on between the person who initially gave the instruction or made the decision, and a Trading Platform and the date and time they passed it;
(d) the name of the DTR who entered a Trading Message into a Trading Platform (or if the Trading Message was submitted by Automated Order Processing, the information set out in Rule 5.5.3);
(e) the time the DTR entered a Trading Message into a Trading Platform (or if the Trading Message was submitted by Automated Order Processing, the time at which the Trading Message was initiated by the Open Interface Device); and
(f) if the Trading Message gives rise to a Market transaction, the date, time and Market on which that occurs.
4.1.3 Records to be made immediately
A Market Participant must make the records referred to in Rules 4.1.1, 4.1.2, 4.1.7 and 4.1.8 immediately after the event to which they relate and record the time of the relevant event.
4.1.4 Records to be retained for prescribed period
A Market Participant must retain the records referred to in Rules 4.1.1, 4.1.2, 4.1.7 and 4.1.8 for seven years from the date the record is made.
4.1.5 Certain records maintained by the Market operator
Where a Market Participant is a Trading Participant, certain of its obligations under Rules 4.1.1 and 4.1.2 may be met by relying on records maintained electronically as set out in Rule 4.1.6.
4.1.6 Conditions for reliance on the Market operator records
(1) Where the records of the Trading Participant:
are able to connect a DTR identifier with a particular DTR; and
(b) identify the person, or any other persons, receiving the instructions, generating an order or making a decision (if not the DTR) and a DTR is capable of being connected to a particular Trading Record or sequence of events,
a Trading Participant may:
when dealing for clients satisfy certain of its obligations in relation to paragraphs 4.1.1(2)(g), 4.1.1(2)(h) and 4.1.1(2)(i); or
(d) when dealing on its Own Account, satisfy certain of its obligations in relation to subparagraphs 4.1.2(2)(a)(i) to (iv), paragraphs 4.1.2(2)(b), 4.1.2(2)(d), 4.1.2(2)(e) and 4.1.2(2)(f),
by relying on records maintained by a Market operator, but only to the extent permitted by subrule (2).
(2) For the purposes of subrule (1), the Market Participant may satisfy the obligation specified in column 1 of the following table by relying on records maintained by a Market operator in the circumstances specified in column 2 of the following table:
Column 1:A Market Participant may satisfy the obligation:
Column 2:by relying on records maintained by a Market operator in the following circumstances:
under paragraph 4.1.1(2)(g) to maintain records of the name of the DTR who entered a Trading Message into a Trading Platform of a Market
where the DTR identifier is contained in the Trading Message and recorded by the Trading Platform of the relevant Market (the DTR who entered the Trading Message being taken to be the DTR whose identifier is so recorded)
under paragraph 4.1.1(2)(h) to maintain records of the time of the Trading Message
where the Trading Platform of the relevant Market records the time the Trading Message was entered into the Trading Platform
under paragraph 4.1.1(2)(i) to maintain records of the date and time that a Trading Message gives rise to a Market transaction
where the Trading Platform of the relevant Market records the date and time of effecting of the Market transaction
under subparagraph 4.1.2(2)(a)(i) to maintain records of the name of a person who made the decision, where that person is the DTR who entered the Trading Message
where the DTR identifier is contained in the Trading Message and recorded by the Trading Platform of the relevant Market (the person who made the decision being taken to be the DTR whose identifier is so recorded)
under subparagraph 4.1.2(2)(a)(ii) to maintain records of the financial products to be bought or sold
where the financial products are entered into the Trading Platform of the relevant Market for the particular Trading Message (which are taken to be the financial products decided or instructed to be bought or sold)
under subparagraph 4.1.2(2)(a)(iii) to maintain records of the number of financial products to be bought or sold
where the number of financial products is entered into the Trading Platform of the relevant Market for the particular Trading Message (which is taken to be the number of financial products decided or instructed to be bought or sold)
under subparagraph 4.1.2(2)(a)(iv) to maintain records of price-related decisions to enter into a Market transaction
where the price is entered into the Trading Platform of the relevant Market for the particular Trading Message (which is taken to be the price at which the financial products are decided or instructed to be bought or sold)
under paragraph 4.1.2(2)(b) to maintain records of an amendment to a Trading Message
where the particulars of the Trading Message are entered into the Trading Platform of the relevant Market
under paragraph 4.1.2(2)(d) to maintain records of the name of the DTR who entered the Trading Message
where the DTR identifier is contained in the Trading Message and recorded by the Trading Platform of the relevant Market (the DTR who entered the Trading Message being taken to be the DTR whose identifier is so recorded)
under paragraph 4.1.2(2)(e) to maintain records of the time of a Trading Message
where the Trading Platform of the relevant Market records the time the Trading Message was entered into the Trading Platform
under paragraph 4.1.2(2)(f) to maintain records of the time that a Trading Message gives rise to a Market transaction
where the Trading Platform of the relevant Market records the time of effecting of the Market transaction
4.1.7 Records of dealings for clients by a Market Participant who instructs another Trading Participant to execute the dealings
A Market Participant that instructs another Trading Participant to enter into a Market transaction on behalf of a person:
need not comply with paragraphs 4.1.1(2)(e), (f), (g), (h), (i) and (j) in respect of that instruction;
(b) must maintain sufficiently detailed records in respect of such instruction showing:
the name of the person who received the instructions;
(ii) the name of any person who passed the instruction on between the person who initially received the instruction and the person instructing the Trading Participant to enter into the Market transaction;
(iii) the name of the person who instructed such Trading Participant to enter into the Market transaction; and
(iv) the time the person instructed such Trading Participant to enter into the Market transaction.
4.1.8 Records of dealings on its Own Account by a Market Participant who instructs another Trading Participant to execute the dealings
A Market Participant (whether or not it is a Trading Participant) that instructs a Trading Participant to enter into a Market transaction on its behalf:
need not comply with paragraphs 4.1.2(2)(c), (d), (e) and (f) in respect of that instruction; and
(b) must maintain sufficiently detailed records in respect of such instruction showing:
the name of any person who passed the instruction on between the person who initially gave the instruction or made the decision and the Trading Participant instructed to enter into the Market transaction;
(ii) the name of the person who instructed such Trading Participant to enter into the Market transaction; and
(iii) the time the person instructed such Trading Participant to enter into the Market transaction.
4.1.9 Records regarding Authorised Persons
A Trading Participant must maintain records of:
the name and contact details of each Authorised Person in relation to each Market, and if an Authorised Person is an agent of another person, the details of that other person; and
(b) the security arrangements regarding access by the Authorised Person to a computer or other device connected to the Trading Participant’s Open Interface Device and its location or if not fixed, the method of identifying the computer or other device,
for a period of seven years from the date the person ceases to be an Authorised Person.
Part 4.2 Records—General
4.2.1 General recordkeeping requirements
(1) A Market Participant must maintain accurate records in sufficient detail to show particulars of:
all money received or paid by the Market Participant, including trust account receipts and payments in a manner usual for a business of the kind being carried on by a Market Participant;
(b) all transactions by the Market Participant with or for the account of:
a person of a type described in Rule 5.4.1 or a Related Party;
(ii) other Market Participants; and
(iii) members of any overseas stock exchange;
(c) all income from commissions, interest and other sources and all expenses, commissions and interest paid;
(d) all assets and liabilities, including contingent liabilities of the Market Participant;
(e) all Cash Market Products and Derivatives Market Contracts which are the property of the Market Participant, showing by whom they, or the documents of title to them, are held and if held otherwise than by the Market Participant, whether they are held as security for loans or advances;
(f) all Cash Market Products and Derivatives Market Contracts which are not the property of the Market Participant but for which the Market Participant or any nominee controlled by it is accountable, showing by whom and for whom such financial products and Derivatives Market Contracts are held and:
in respect of those which are held for safe custody details sufficient to identify such Cash Market Products and Derivatives Market Contracts;
(ii) in respect of those which are held for any person or firm or corporation as security for loans or advances made by the Market Participant details sufficient to identify such Cash Market Products and Derivatives Market Contracts;
(g) all dealings in Derivatives Market Contracts by the Market Participant and all fees (option moneys) arising therefrom and any related covering transactions;
(h) all confirmations issued by the Market Participant and details of any statements and specifications which are required by these Rules, the operating rules of the relevant Market and the Corporations Act to appear on confirmations; and
(i) all underwriting transactions entered into by the Market Participant.
(2) All Cash Market Products and Derivatives Market Contracts held for safe custody or whose certificates are held for safe custody must either be registered in the name of the client or the Market Participant’s nominee.
(3) The holding of Cash Market Products and Derivatives Market Contracts for security must be authorised in writing by the owner thereof or some other person lawfully authorised to do so.
(4) An authority referred to in subrule (3) must specify the period for which such Cash Market Products and Derivatives Market Contracts or documents of title may be held.
4.2.2 Client complaints—Records of complaints and correspondence
(1) A Market Participant must keep the following records of complaints received from clients:
a copy of all written complaints;
(b) a copy of all written correspondence between the Market Participant and the clients and a written summary of any oral communication in connection with a written complaint; and
(c) any correspondence or documents relating to the resolution of a complaint through any complaints resolution scheme.
(2) A Market Participant must keep the records referred to in subrule (1) in respect of a complaint for at least five years from the date of the last correspondence in respect of that complaint.
Part 4.3 Access to records
4.3.1 Records to be in writing and in English
(1) A Market Participant must keep all of the records it is required to maintain under this Chapter 4, in writing and in the English language or in a manner which will enable them to be readily accessible by ASIC and readily converted into writing in the English language.
(2) A Market Participant must, if directed by ASIC in writing to do so, convert records maintained under this Chapter 4 into writing and into English.
(3) A Market Participant must comply with a direction given under subrule (2) by the time specified by ASIC when giving the direction.
4.3.2 Records kept outside Australia
(1) If the records which a Market Participant is required to maintain under this Chapter 4 are kept outside Australia:
the Market Participant must send, or cause to be sent, to Australia records which will enable true and fair financial statements to be prepared; and
(b) the Market Participant must, if directed by ASIC in writing to do so, produce any of its records in Australia.
(2) A Market Participant must comply with any direction given by ASIC under paragraph (1)(b) by the time specified by ASIC when giving the direction.
Part Part 4 - ASIC Market Integrity Rules (Securities Markets) 2017 - Records | Zoe