New Zealand Gazette – 1990 – No. 170

Page 3602

✨ Trading Member Conduct Rules



3602 NEW ZEALAND GAZETTE No. 170

contractually owed by the Member to the client;

(iii) to ensure that no less than fifty percent of such monies held in clients’ funds accounts are held on same day call;

(k) not knowingly to transact any business on behalf of:

(i) any director, partner or employee of any other Trading Member or of any Affiliate Member or Introducing Broker Member; or

(ii) any client in which any such director, partner or employee has an interest, either direct or indirect; or

(iii) any Local Member other than a Local Member for whom the Trading Member is the Nominating Member.

For the purpose of this sub-clause "employee" shall include persons who as a representative of the Member advise or solicit instructions from persons in relation to the sale or purchase of futures or option contracts on the Market. The provisions of this sub-clause shall not apply to trading by a Trading Member or an Affiliate Member through another Trading Member;

(l) where the Trading Member is the Nominating Member of a Local Member, not to permit any person other than that Local Member to use the terminal device maintained by the Trading Member on its premises for that Local Member;

(m) not to issue or disseminate, or permit the issue or dissemination of, any advertisement or unsolicited business communication in writing, in respect of its business as a dealer in futures or option contracts, which is false or which may be misleading or prejudicial to the goodwill or public image of the Exchange and its Members or which has been disapproved, or is of a class that has been disapproved, by the Investigations’ Committee or the Board by notice in writing to the Trading Member concerned or to Trading Members generally: provided that this provision shall not prevent the issue or dissemination of unsolicited business communications to companies which are listed on recognised stock exchanges or their related companies;

(n) not knowingly to employ any person who has been involved in any investigation by the Board as a result of which there has been a finding of misconduct involving that person, without first obtaining the written approval of the Investigations Committee;

(o) not to act in any way which would adversely affect the goodwill or public image of the Exchange and its Members;

(p) to effect and maintain such form of indemnity as the Board may from time to time determine to be appropriate to protect the interests of clients of Members;

(q) to notify the Exchange in writing immediately upon the happening of any one or more of the following:



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🏭 Trading Members Conduct (continued from previous page)

🏭 Trade, Customs & Industry
Conduct, Records, Financial Reports, Net Tangible Assets, Audits, Client Funds, Instructions, Authorities