52Large futures exchange operators

52 Large futures exchange operators

(1) A leviable entity forms part of the large futures exchange operators sub‑sector in a financial year if, at any time in the financial year, the entity is the operator of a large futures exchange. Entity metric (2) The leviable entity’s entity metric for the sub‑sector for the financial year is: (a) unless paragraph (b) applies—the number of days in the financial year on which the entity operated the exchange; or (b) if the entity operated 2 or more large futures exchanges in the financial year—the sum of the days worked out under paragraph (a) for each of those exchanges. (3) A licensed market is a large futures exchange, in relation to a financial year, if: (a) 10 million or more futures transactions are entered into on the market in the financial year; and (b) the market is not: (i) an overseas market; or (ii) a large securities exchange.