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ASIC consults on market integrity rules for the FEX market

by Martha.Ware 16. May 2011 08:11
ASIC has released a consultation paper proposing new market integrity rules which will apply should Financial and Energy Exchange Limited (FEX) be granted an Australian market licence.

This follows the release of Consultation Paper 149 Application for an Australian market licence: Financial and Energy Exchange Limited in March 2011. This paper outlined the nature of the proposed FEX market and sought feedback on FEX’s application for a licence to operate an exchange market for energy, commodity and environmental derivatives.

The proposed market integrity rules for FEX, contained in Consultation Paper 157 Proposed ASIC market integrity rules: FEX market (CP 157), are substantially similar to the current ASIC Market Integrity Rules (ASX 24 Market) 2010, adopted from the long standing Australian Securities Exchange operating rules.

Consultation on these rules will help ASIC to advise Minister for Financial Services and Superannuation on the final market integrity rules for the FEX market, should it be determined that a licence be granted.

ASIC is seeking feedback on the market integrity rules proposals in CP 157 by 9 June 2011.

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