ASIC to Consult on Broader Market Structure

ASIC is finalising a consultation paper on issues arising from recent developments in Australia’s financial markets.

In particular, the consultation paper will seek views on proposed market integrity rules relating to:
• automated trading including high frequency trading;
• volatility controls for extreme price movements;
• enhanced data for supervision;
• the product scope of best execution; and
• pre-trade transparency and price formation in the market.

ASIC’s market surveillance duties have expanded since the transfer of supervisory powers on 1 August 2010, and will expand further once competition commences. ASIC aims to implement a regulatory approach that will keep pace with market and international developments.

Interested parties will be invited to make submissions on how to best achieve this regulatory outcome.
The consultation paper will contain details on how interested parties can make submissions. We look forward to the industry’s contribution to this process.

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