Maintaining market integrity in a changing environment
Keynote speech by Greg Medcraft, Chairman, Australian Securities and Investments Commission to the Stockbrokers Association of Australia 2012 Annual Conference, 1 June 2012.
Our equity trading markets have always been dynamic. But every now and then, changes occur that fundamentally change the landscape.
These changes can be so significant that they require a review of the regulatory settings to ensure our markets remain fair and efficient – ASIC’s second strategic outcome.
This also goes hand in hand with ASIC’s first strategic outcome: confident and informed investors and consumers. As part of this, we need to ensure market integrity is maintained and that markets are fair, orderly and transparent.
Today, I would like to cover some of these changes, such as market structure, high-frequency trading (HFT) and dark pools, and enhanced market supervision.