CK Locke: Terms and Conditions of Conditional Ordering

Please also view the following Terms and Conditions required for share trading:

Terms and Conditions of Share Trading Account
Terms and Conditions of Online Access
Terms and Conditions of Cash Account
Terms and Conditions of Participant Sponsorship Agreement

These terms and conditions apply to your share trading account with Australian Investment Exchange Ltd ABN 71 076 515 930, AFSL 241400 of Level 7, 141 St Georges Terrace, Perth, Western Australia in relation to the provision of the Conditional Ordering facility.

1.0
DEFINITIONS

1.1
In these Terms:

"Account" means Your trading account with AUSIEX;

"AUSIEX", means Australian Investment Exchange Ltd ABN 71 076 515 930, AFSL 241400 of Level 7, 141 St Georges Terrace, Perth, Western Australia;

"ASX" means the Australian Stock Exchange Limited ACN 008 624 691;

"ASX Business Rules" means the Business Rules of the ASX, the ASX Market Rules, the Australian Clearing House Pty Ltd ABN 29 003 435 014 ("ACH") Clearing Rules and the ASX Settlement and Transfer Corporation Pty Ltd ABN 49 008 504 532 ("ASTC") Settlement Rules as amended from time to time;

"Business Day" means a day other than a Saturday, Sunday, New Year's Day, Good Friday, Easter Monday, Christmas Day, Boxing Day; and any other day which ASX advises is a not a Business Day;

"Cash Account" means the account referred to in the Cash Account terms and conditions;

"CHESS Holding" means an uncertificated holding of securities on a sub register for that class of securities maintained by ASTC;

"Cleared Funds" means funds available in the Cash Account for the purposes of trading;

"Conditional Order" means an instruction to monitor a particular Financial Product for a predefined list of Criteria, where the Criteria is met an order in that Financial Product may be placed on the market;

"Corporate Action" means an action taken by a public company that has a direct effect on the holdings of its shareholders. The most common example of a corporate action is a dividend, a payment to the shareholder of company profits. Other examples include cash from the sale of rights or a reconstruction;

"Criteria" means a combination of data provided to AUSIEX relating to a Financial Product, including the ASX code, a quantity, Limit Price, volume and action to be taken with that Financial Product;

"Financial Product" means any financial products (as defined in the Corporations Act 2001 (Cth)) traded on the ASX and any other exchange notified to You by AUSIEX from time to time;

"Limit Price" means a price instruction for a Financial Product given by You to AUSIEX in relation to a Conditional Order;

"Terms" means the Conditional Ordering Terms & Conditions included in the Trading Site and set out here as amended from time to time;

"Trading Site" means the internet site address notified to You through which access is gained to share market trading functions;

"Trigger" means the Criteria specified by You when a Conditional Order instruction is given to AUSIEX, which, when satisfied, will create a Triggered Order to be sent to AUSIEX for vetting. If Your Triggered Order passes AUSIEX's vetting process, the order may be placed on the market;

"Triggered Order" means the order that is created and sent to AUSIEX, once the Criteria of Your Conditional Order has been met and vetted;

"You" or "Your" means the person, persons or company to whom AUSIEX provide the service and to the extent relevant, includes Your authorised representative.

2.0
GENERAL

2.1
AUSIEX may offer You the Conditional Ordering facility via the Trading Site. In agreeing to these Terms You acknowledge that You:

(a)	have read and understood all the information on the Trading Site relating to Conditional Ordering and the order entry system;
(b)	understand the effect and risks involved with placing Conditional Orders and acknowledge that a Conditional Order may not Trigger in some situations;
(c)	have read and understood AUSIEX's Financial Service Guide contained on the Trading Site prior to making any decision to invest;
(d)	will not place a Conditional Order instruction for the purpose of threatening the integrity of the market, manipulating the price and or market for a Financial Product, market rigging, insider trading or that interferes with the conduct of an orderly market; and
(e)	are aware that using Conditional Orders may involve increased risk to that of the risks involve in trading in Financial Products. Prices of Financial products may change between the time Conditional Order is Triggered and the time the order is placed to the market.

2.2
All Conditional Orders placed via the Trading Site are subject to the Terms and Conditions of Online Access.

2.3
All trading which results from use of Conditional Orders is subject to the Terms and Conditions of Share Trading Account.

2.4
If there is a discrepancy between these Terms and Conditions of Online Access and Terms and Conditions of Share Trading Account, these Terms will apply.

3.0
ACCESS

3.1
Conditional Orders may be placed via the Trading Site.

3.2
Conditional Orders received by AUSIEX after the ASX market closes will be reviewed on the following Business Day until expiry of the Conditional Order.

3.3
You may amend or cancel an open Conditional Order via the Trading Site. If the Triggered Conditional Order has been placed on the market, You can amend the order via the Trading Site or by telephone.

3.4
AUSIEX's Conditional Ordering facility only accepts a Trigger in relation to a Financial Product which is the subject of that Conditional Order and will not accept a Trigger which requests an action relating to any other Financial Product.

3.5
A Conditional Order instruction, if accepted by AUSIEX, is valid for 3 months from the date it was originally placed. The Triggered Order will by default be a "good until cancelled" order type until cancelled by You or purged as described in these Terms.

3.6
All Conditional Order instructions must nominate a Limit Price. AUSIEX will not accept an "at market" order type as a Limit Price in relation to a Financial Product.

3.7
AUSIEX may impose limits on the number of open Conditional Orders You have in any one Financial Product.

3.8
Where AUSIEX receive multiple Conditional Orders from different clients, each with the same conditions, Triggered simultaneously, the orders will be placed into the market as expeditiously as possible, but not necessarily in the same order AUSIEX received them.

3.9
AUSIEX may accept Your Conditional Order instruction with or without You having Cleared Funds or with or without You having sufficient holdings sponsored by AUSIEX in the Financial Product, but AUSIEX may reject Your Triggered Order if there are insufficient Cleared Funds or if the Financial Products to be sold are not participant sponsored by AUSIEX or for any other reason permitted under these Terms, at the time that the order has been Triggered and vetted.

3.10
When Your Conditional Order is Triggered, AUSIEX will vet the order against its requirements, including for Cleared Funds or Your participant sponsored holdings of Financial Products, and then, if approved, AUSIEX may place that order into the market. Where a Triggered Order fails AUSIEX's vetting process AUSIEX may reject that order.

3.11
The Trigger of Criteria on a Conditional Order does not guarantee Your order will be executed or that it will be executed at the price available at the time the Criteria were Triggered. If the Triggered Order is not fully executed You are responsible for monitoring the outstanding order and placing further instructions to amend or cancel that order.

3.12
Where a Conditional Order is triggered and passes AUSIEX vetting process AUSIEX will endeavour to place a Triggered Order into the market as soon as practicable. If Your Triggered Order was created at or near the ASX market close Your order might be queued in an order book for placement onto the market the next Business Day.

3.13
You acknowledge that certain Triggered Orders may be subject to manual review and entry by AUSIEX's Designated Trading Representatives (DTRs), which may result in those orders being refused or cause delays in the processing of those orders. AUSIEX is not liable for any delays in placing Your order or for Your order not being placed at all.

3.14
A Conditional Order may be cancelled or purged by AUSIEX when a Corporate Action occurs in that Financial Product.

3.15
AUSIEX may at any time and at AUSIEX's sole and absolute discretion refuse Your instructions to purchase or sell Financial Products on Your behalf.

3.16
AUSIEX may at any time and at AUSIEX's sole and absolute discretion cancel or purge any Conditional Order (either before or after the Criteria have been Triggered) without providing any reason for doing so.

3.17
In the event of a system malfunction AUSIEX may purge Your Conditional Order. You are responsible for re-submitting any orders that may have been purged or cancelled. If AUSIEX do purge Your Conditional Order instructions AUSIEX will use its best endeavours to notify You by an SMS or email message alert.

3.18
In the event that the Trading Site is unavailable, AUSIEX reserve the right to suspend its Conditional Ordering facility and cancel any outstanding Conditional Orders without prior notice.

3.19
AUSIEX may cancel any Conditional Orders that have not been Triggered at its absolute discretion

3.20
You are required to monitor the status of Your Conditional Order and if You consider necessary, re-submit any orders that may be purged or cancelled.

4.0
RESTRICTIONS OF ACCESS

4.1
AUSIEX is required to comply with the ASX Dealing Rules and any other applicable laws, which may require AUSIEX to suspend, limit or prohibit access to the Conditional Ordering facility.

4.2
AUSIEX may suspend, limit or prohibit access the Conditional Ordering facility.

4.3
AUSIEX may suspend, limit or prohibit access to Conditional Ordering for particular Financial Products.

4.4
AUSIEX may suspend limit or prohibit the placement of order instructions for Triggered Orders in a particular Financial Product.

5.0
NOTIFICATION OF ALERTS

5.1
If You are eligible to receive message alerts and request AUSIEX to provide You with Conditional Ordering alerts, You must provide AUSIEX with a valid email address or mobile telephone number.

5.2
AUSIEX does not guarantee the performance of any email, phone or alternate service provider. You acknowledge that Your receipt of messages (including SMS messages and emails) is dependent on other service providers not controlled by or associated with AUSIEX, including and without limitation, Your chosen internet service provider or mobile telephone service provider.

6.0
FEES AND CHARGES

6.1
In addition to the brokerage and any other fees that apply to transactions on Your behalf, You will be charged an additional fee for Conditional Orders either "upfront" when You enter the Conditional Order into the AUSIEX Trading Site or as a result of a Conditional Order being executed. You must advise us if You would like to be charged either "upfront" or upon "execution".

6.2
AUSIEX may charge fees for providing You with emails and/or SMS messages relating to Conditional Orders.

6.3
You irrevocably authorise AUSIEX to deduct all fees payable in respect of the Conditional Order facility (including fees relating to SMS messaging and email charges where applicable).

6.4
All fees and charges for AUSIEX services can be found on the Trading Site.

7.0
VARIATION AND TERMINATION

7.1
AUSIEX may at any time change the Terms applying to Your Account. AUSIEX will notify You of changes by giving You at least five (5) clear business days notice before the change takes effect. AUSIEX will either write to You (by email or mail) or place an advertisement in The Australian Newspaper. Any continued use by You and Your Account and its services is an acceptance of the variation.

7.2
However, AUSIEX does not need to give You advance notice where any variation of the Terms is required to comply with a prescribed requirement or is necessitated by an immediate need to restore or maintain the security of the system or individual accounts.

7.3
AUSIEX may terminate Your access to the Conditional Order facility immediately if You have breached these Terms.

7.4
AUSIEX may assign any or all of its rights or obligations under this agreement at any time, without your prior consent.

7.5
Your rights and obligations under this agreement and otherwise in respect of your use of the Service must be assigned (whether at law, in equity or otherwise) or made the subject of an encumbrance, trust or fiduciary obligation without AUSIEX's prior written consent, which consent AUSIEX may give all withhold, or give subject to any conditions as AUSIEX may determine, in AUSIEX's absolute discretion.

8.0
DISPUTES

8.1
If You believe that AUSIEX has not correctly acted on Your Conditional Order, You are to clearly show in writing the reason for Your concern by reconstructing the time You believe the Trigger should have submitted to the market. You must advise AUSIEX of Your concern within ten (10) clear Business Days. If You ask AUSIEX to review that incident, You will be charged according to AUSIEX's ad hoc queries & tasks You request outside the normal course of business (1 hour min) should AUSIEX not be in error.

View a printable version of this document