Australian Securities and Investments Commission (ASIC) has acquired approval from the government for its new draft of market integrity rules for equity exchange markets, Financial Standard reports. The rules have been formed for the expected introduction of new market traders, such as Chi-X. The rules, which are expected to be effective from Oct. 31, 2011, will apply greater scrutiny on dark pool trading. As per the new rules, a dark pool operator has to file a nine-part report outlining the specifics of the system 20 days before launching it or face a fine.
Click here for the story from Financial Standard.
Click here for the additional coverage from The Australian.