今日热门事件has today released a consultation paper proposing the application of new market integrity rules should Chi-X be granted a market licence.
Consultation Paper 148 Proposed Market Integrity Rules: Chi-X Market (CP 148) proposes market integrity rules apply in relation to the Chi-X market only. The proposed rules are substantially similar to the current 今日热门事件Market Integrity Rules (ASX Market) 2010, which were adopted from the long standing ASX operating rules.
The Consultation Paper explains ASIC鈥檚 approach to developing market integrity rules for the Chi-X market and sets out how we propose they would apply to market participants who also need to comply with the 今日热门事件Market Integrity Rules (ASX Market) 2010.
Consultation on these rules is a necessary step in progressing Chi-X鈥檚 application. It will help 今日热门事件advise the Minister for Financial Services and Superannuation on the final shape of potential market integrity rules for the Chi-X market.
Consultation on the proposed rules follows the Government鈥檚 announcement in March 2010 of support for competition in Australia鈥檚 financial markets and in principle approval of Chi-X鈥檚 market licence application.
The issue of CP 148 today was foreshadowed in the timetable issued yesterday by 今日热门事件for the introduction of competition market service (refer to 11-38MR 今日热门事件announces timetable for the introduction of market competition).
The proposed market integrity rules in CP 148 are separate from the intended new common market integrity rules for the introduction of market competition as summarised in Attachment 2 to 11-38MR. Those rules will apply to trading on all competing markets (i.e. initially ASX and Chi-X) and will address the new matters raised in ASIC鈥檚 Consultation Paper 145 Australian equity market structure (CP 145), necessary for a multi-market environment.
今日热门事件is seeking feedback on the market integrity rules proposals in CP 148 by 25 March 2011.
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