OpenMarkets slapped with licence conditions

Online stockbroker OpenMarkets has had additional conditions imposed on its financial services licence following a surveillance by ASIC.

OpenMarkets will have to negotiate additional licence conditions and the attentions of regulatory consultant MIntegrity after an ASIC surveillance found the company’s compliance procedures wanting.

By |June 2nd, 2017|Uncategorized|Comments Off on OpenMarkets slapped with licence conditions|

ASIC ends probe on UBS

ASIC ends probe on UBS

By |June 2nd, 2017|Uncategorized|Comments Off on ASIC ends probe on UBS|

New HFT manipulation provisions

On 12 August this year, ASIC announced (Media Release 13-213MR) that it had released a number of new and amended Market Integrity Rules (MIR’s) aimed at improving the integrity of dark liquidity crossing systems, along with HFT related enhancements to the MIR for market manipulation.  The new rules will come into force in stages through to May 2014.

Although the bulk of the media release and related rule changes focus on dark liquidity, arguably the change to the manipulation MIR will have a greater impact to compliance teams across a wider community of market participants.

In particular, many ASX 24 market […]

By |November 27th, 2013|Uncategorized|0 Comments|

ASIC making AOP Fat Fingers it’s bread and butter

If there were any doubt where the focus of ASIC has been to date in relation to enforcing it’s Market Integrity Rules, a further look at the published infringement notices tells us a clear tale of two key areas.

One is Automated Order Processing (AOP) and related filters, where putting aside the exact rule breach alleged, at the time of writing more than 85% – with penalties totalling $872,000 – have involved an AOP filter element which either caused or could have prevented the breach.

The second area is the creation of disorderly markets (ASX MIR 5.9.1), mainly via order entry […]

By |November 11th, 2013|Uncategorized|0 Comments|