ASIC: Australian Investment Exchange Limited pays $130,000
Australian Investment Exchange Limited (AUSIEX) has paid a penalty of $130,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP).
The penalty was for AUSIEX:
- failing to have in place organisational and technical resources, including having:
- automated filters or Market Vetting Filters as appropriate, for all Authorised Persons between 31 January 2011 and 31 March 2014, and
- processes to detect Authorised Persons trading without appropriate automated filters in place,
which interfered with the efficiency and integrity of the Market, and
- failing to prevent the entry into the ASX Trading Platform of an erroneous Order which resulted in a market for Westpac Banking Corporation American Call Option contracts not being both fair and orderly.
Source: ASIC
