Amendment Instrument 2026/574 · F2026L01223 Registered 17 September 2026 · commences 17 March 2028
The Art of Service · Market conduct ASIC Market Integrity Rules Checker The amended ASIC market integrity rules, the duty on each page, the evidence an auditor asks for, and the date it starts.
InstrumentAmendment 2026/574
Registered17 September 2026
Commences17 March 2028
In this record19 duties · 82 evidence items

Home / Rules / 1.4.3

1.4.3

The definitions that change the scope

Trading Algorithm, Trading System, Trading System Requirements, Material Change and Initial Certification are defined, and the AOP, DTR and Open Interface terms are repealed.

BindsAll participants
Commences17 March 2028
SourceSchedule 1, items 4 to 35
Record date2026-10-19

The requirement, in our words

The instrument does not only change rules. It changes the vocabulary the rules use, and the vocabulary decides the scope. Six definitions are inserted or given a new anchor: Initial Certification, Initial Certification Review, Material Change, Trading Algorithm, Trading System and Trading System Requirements. The definition of Trading Algorithm excludes routing, bare submission, confirmations and post-trade processing, so a firm must test each automated function against those exclusions rather than assume every automated tool is in scope.

What the rule is trying to do

A large group of definitions is repealed: AOP Annual Notification, AOP Annual Review Date, AOP Client, AOP Initial Certification, AOP Material Change, Automated Client Order Processing, Automated Order Processing, Automated Order Processing Requirements, Chi-X Australia, Chi-X Market, DTR, DTR identifier, IR Plus Market, NSXA AOP Participant, Open Interface, Open Interface Device, Trader Workstation and Trader Workstation Software. The defined terms that remain are amended where they point at the old regime, including Authorised Person, Clearing Facility, Market, Relevant Clearing Participant, Representative, Settlement Facility and UTC(AUS).

What good practice looks like

The practical effect is that policies, procedures, system specifications, contracts and training material that use the old terms must be re-read. A reference to an Open Interface Device is no longer a reference the rules use. A reference to a DTR is no longer a role the rules create. The replacement concepts are the Trading System, the Trading Message, the Representative and the Authorised Person.

What changed in the instrument

Items 4 to 35 amend the definitions in Rule 1.4.3.

Evidence an auditor or ASIC asks for

CategoryRecord to keepRetention
Term mapA map of every internal policy and system term to the new defined term, with the owner and the change.Current.
Repeal listThe list of repealed definitions and every document that still uses one.Current.
Scope testA function by function test of automated tools against the Trading Algorithm exclusions.Current.

Common gaps

  • Policies still refer to AOP and DTR.
  • Every automated tool is treated as a Trading Algorithm without the exclusion test.
  • The new definitions are not in the system glossary.

What to do before 17 March 2028

  1. Map every old term to its replacement.
  2. Search policies and contracts for the repealed terms.
  3. Test each automated function against the exclusions.

Dates and cross-references

Commences: 17 March 2028 (Rule 2 of F2026L01223 and the registration date). Retention: Not stated in the text for the map.

Read with: 5.5.1, 5.6.3B, 5.6.8.

Source

This page reads ASIC Market Integrity Rules (Securities Markets) Amendment Instrument 2026/574 (F2026L01223), Schedule 1, items 4 to 35, 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.