Market competition - frequently asked questions and additional information

ASIC has received various questions from industry on the interpretation and application of the new competition market integrity rules and the introduction of competition.

We provide additional information on the following topics:

A. Pre-trade transparency – MIR4.2.3 'at or within the spread' exception
B. Pre-trade transparency – other exceptions
C. Automated order processing
D. Best execution
E. Trade confirmations
F. Short selling
G. Market operator obligations and operational requirements

Last updated 2 May 2012 by inserting A11: see previous updates

This information supplements the ASIC rules and guidance. Market participants should not solely rely on this information and should refer to the relevant rules and guidance, including:

ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 (Competition MIRs);
ASIC Market Integrity Rules (Chi-X Australia Market) 2011 (Chi-X MIRs);
ASIC Market Integrity Rules (ASX Australia Market) 2011 (ASX MIRs);
Regulatory Guide 223: Guidance on ASIC market integrity rules for competition in exchange markets (RG 223);
Regulatory Guide 224: Guidance on ASIC market integrity rules for the Chi-X market (RG 224);
Regulatory Guide 214: Guidance on ASIC market integrity rules for the ASX and ASX24 markets (RG 214).

More information

PureMatch

Market Supervision Updates

ASIC Website: Printed 05/17/2012

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