Friday May 10 2013
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Australia
ASIC has made new market integrity rules for the Australian Securities Exchange Limited derivatives market (ASX 24).
The rules cover risk management, supervisory policies and procedures, and foreign participants. New ASX 24 market participants will need to comply with the rules immediately. For existing participants, there will be a three month transition period. ASIC will issue regulatory guidance during this time.
There are also rules that cover disclosure about clearing arrangements and obligations on participants to give priority to the client’s instructions where there is a conflict between the client’s interests and the participant’s interests. These will need to be complied with immediately.
The rules follow consultation in May 2011 and November 2012 (refer: 11-97AD and 12-281MR).
Click on the above link for more details.