47D. Cross-trading
Feedback & supportLast amended by an amending law of 2018. 2 amendments in all.
The holder of a capital markets services licence to deal in capital markets products shall not knowingly fill or execute a customer’s order for the purchase or sale of a futures contract on an organised market by off-setting against the order or orders of any other person, without effecting such a purchase or sale either —
on the trading floor or electronic futures trading system; or
in accordance with the business rules and practices of an approved exchange or recognised market operator.
Any person who contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 12 months or to both.
Subregulation 1
The holder of a capital markets services licence to deal in capital markets products shall not knowingly fill or execute a customer’s order for the purchase or sale of a futures contract on an organised market by off-setting against the order or orders of any other person, without effecting such a purchase or sale either —
on the trading floor or electronic futures trading system; or
in accordance with the business rules and practices of an approved exchange or recognised market operator.
Subregulation 2
Any person who contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 12 months or to both.