The requirement, in our words
A Trading Participant must record, for each Market, every Authorised Person with contact details, and Market and, where the person acts as an agent of another, the details of that principal. It must also record the security arrangements for the person access to the Trading System. The amended paragraph (b) replaces the old reference to a workstation linked to an Open Interface Device, its location and its identifying method with a single reference to the Trading System. The records are kept for seven years from when the authorisation ends.
What the rule is trying to do
The record follows the new system boundary. Once the Open Interface Device concept is repealed, the access record must describe access to the Trading System, not a particular workstation. The seven year clock starts when authorisation ends, not when it begins.
What good practice looks like
Rebuild the Authorised Person register around the Trading System. Record the authorisation basis, the Markets covered, the access method and the person who approved it. When a person leaves or loses authorisation, start the seven year retention clock and keep the record out of the active access list. Test a person who is also an agent of another firm.
What changed in the instrument
Item 59 replaces the old paragraph 4.1.9(b) wording about a device linked to an Open Interface Device, its location and identifying method with "Trading System".
Evidence an auditor or ASIC asks for
| Category | Record to keep | Retention |
|---|---|---|
| Register | The Authorised Person register with name, contact details, Markets, agent principal and the authorisation reference. | While current, then seven years after cessation. |
| Access record | The security arrangement for access to the Trading System, including the role, the access method and the approval. | Seven years after cessation. |
| Cessation record | The date authorisation ended and the evidence that access was removed. | Seven years after cessation. |
| Review | A periodic reconciliation of the register against active system accounts. | Current, with the last result. |
Common gaps
- The register still records Open Interface Devices and workstations that the amendment no longer uses.
- The seven year clock is started at appointment rather than at cessation.
- A person who is an agent of another firm is recorded without the principal.
- Removed users stay on the active list because the system account is disabled but the register is not updated.
What to do before 17 March 2028
- Rewrite the register around the Trading System.
- Add the agent principal and the authorisation reference.
- Set the retention clock to start at cessation.
- Reconcile the register to active accounts before the commencement date.
Dates and cross-references
Commences: 17 March 2028 (Rule 2 of F2026L01223 and the registration date). Retention: Seven years from the date the person ceases to be an Authorised Person.
Read with: 4.1.4, 4.1.6, 5.5.1, 5.6.3.
Source
This page reads ASIC Market Integrity Rules (Securities Markets) Amendment Instrument 2026/574 (F2026L01223), Schedule 1, item 59, against the current compilation Compilation No. 6 (F2024C01108). Retrieved 2026-10-19. The requirement above is our own statement, not the instrument's wording. Not legal advice; does not certify.