AUSTRALIA: ASIC Publishes Changes to Market Integrity Rules

Friday October 30 2015

On 30th October 2015, ASIC published amendments to ASIC market integrity rules to ensure warrants and exchange traded funds (ETFs) admitted to quotation on Chi-X Australia Pty Ltd (Chi-X)’s new investment product market are subject to an appropriate regulatory regime. This follows the recent variation to Chi-X’s Australian market licence and amendments to Chi-X’s operating rules.

Chi-X is aiming to launch its investment product market in late-2015, commencing with the quotation and trading of warrants, followed by the launch of ETFs in 2016. In February 2015, Chi-X released a consultation paper outlining its proposals.

The changes are necessary to maintain market integrity and ensure a consistent regulatory framework is in place, in particular, for market participants and investors who may seek to trade warrants and ETFs on the Chi-X and/or ASX markets.

ASIC has also made minor amendments to the ASIC Market Integrity Rules (ASX Market) 2010 to incorporate recent changes to the definitions of ‘ETF’ and ‘managed fund’ in the ASX Operating Rules. These changes were also addressed during consultation.

Click on the link above for further details.