ASIC has announced its timetable for the introduction of market competition, along with a summary of the intended market integrity rule framework that would apply.
ASIC aims to publish the final market integrity rules that reflect the minimum needed for the commencement of competition in April. The final rules will be subject to Ministerial consent prior to ASIC formally making them.
ASIC will then consult further on final rules and other market development issues raised in CP 145, with the aim of settling the additional rules in 2012.
Chi-X’s timetable
The timetable also sets out the steps ASIC, Chi-X and the industry need to take to commence operations in the Australian market. In order to prepare for a multi-market environment there are a number of steps that will need to take place prior to Chi-X’s commencement, including:
Submissions can be made to:
Alex Orgaz-Barnier
Senior Analyst
Exhange Market Operators
Australian Securities and Investments Commission
GPO Box 9827
Sydney NSW 2011
Email: alex.orgaz-barnier@asic.gov.au
For further information:
Read the ASIC media release here:11-39AD
Read Consultation Paper 148 here: CP 148