The requirement, in our words
The amended Rule 4.1.6 replaces the old conditions and table with a single table. A Market Participant may satisfy a listed obligation by relying on a record kept by a Market operator only in the circumstance stated for that obligation. The table covers the time a Trading Message was entered, the time a Market transaction resulted, the financial products and their number, the price, an amendment, and the stage timestamps in 4.1.2(2)(f)(iii) and (v). The old gateway conditions about connecting a DTR identifier to a person are repealed. Reliance is field by field, not a blanket transfer of the record duty.
What the rule is trying to do
The table is the limit of the concession. A participant that relies on the platform must be able to show that the platform records the specific field, for the specific message, in the circumstance the table describes. Everything outside the table remains the participant record.
What good practice looks like
Build a field level reliance matrix against each Market operator agreement and platform specification. Mark each row as participant record, operator record, or both with a reconciliation. Confirm the platform records the entry time and the transaction time separately. Review the matrix when an operator changes its platform or its terms.
What changed in the instrument
Items 52 to 54 repeal subrule 4.1.6(1), simplify the opening words of subrule (2), and replace the table. The new table drops the DTR identifier rows and adds the financial products, number, price, amendment and stage timestamp rows.
Evidence an auditor or ASIC asks for
| Category | Record to keep | Retention |
|---|---|---|
| Reliance matrix | A field by field matrix naming the obligation, the operator record relied on, the platform field and the contractual or technical basis. | Current, with version history. |
| Platform evidence | The operator specification or a test extract showing the platform records the field for the relevant message type. | Current, with the date obtained. |
| Reconciliation | A periodic reconciliation between the participant record and the operator record for the relied-on fields. | Seven years. |
| Exception | The procedure and log for a field the platform did not record, showing the participant record that fills the gap. | Seven years. |
Common gaps
- The participant treats the operator record as covering the whole rule rather than the listed fields.
- The platform records a submission time but not the time the instruction was given.
- The reliance matrix was built for the old rule and still refers to a DTR identifier.
- No one checks the matrix when the operator changes the platform.
What to do before 17 March 2028
- List every obligation in the new table and the platform field that would satisfy it.
- Obtain the operator specification or a test extract for each field.
- Mark the fields the participant must still record itself.
- Set a review trigger for platform and contract changes.
Dates and cross-references
Commences: 17 March 2028 (Rule 2 of F2026L01223 and the registration date). Retention: Seven years from the date the record is made.
Read with: 4.1.1, 4.1.2, 4.1.3, 4.1.9.
Source
This page reads ASIC Market Integrity Rules (Securities Markets) Amendment Instrument 2026/574 (F2026L01223), Schedule 1, items 52 to 54, 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.