ASIC has released timetable for the introduction of market competition

The Australian Securities and Investments Commission (ASIC) has released a timetable for the introduction of market competition.

ASIC is aiming to release the market integrity rules that will be required for market competition in April 2011.

Also in April and following on from the release of new market integrity rules, ASIC is anticipating that it will be in a position to provide a recommendation on whether Chi-X, a market operator that has indicated an interest in providing trading services in competition with the ASX, should be granted a licence.

Assuming that Chi-X is approved, it will begin operations in October/November 2011.

More information on ASIC’s consultation process and proposals can be found at http://www.asic.gov.au.