7.5 Trading Practices

7.5.1 Indication of Interest Orders (IoI)

A Broking Member given an order to work on a not held basis has discretion to work the order in the best interests of the client by entering an “Indication of Interest” Order (IoI) on the market. The exact terms of this discretion are not prescribed by the Exchange but will be agreed between each Broking Member and its clients. Arrangements to work all or some of a particular client’s orders on an IoI basis should be supported by prior agreements. However, irrespective of whether an order is being worked on an IoI basis, Broking Members are required to immediately execute the order on the Cleartrade Platform should the order become capable of execution. It shall be an offence to withhold an order which is capable of immediate and full execution for the purpose of soliciting matching business outside of the Exchange.

 

7.5.2 Matching Orders

Where a Member holds matching orders which have not previously been entered into the Cleartrade Platform from one or more clients or wishes to match a client order with an order where a Member is acting in a proprietary capacity, it may enter both orders as a pre-matched block trade using the Cleartrade Block Trading Facility.

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