Keynote speech by Greg Medcraft, Chairman, Australian Securities and Investments Commission to the Stockbrokers Association of Australia 2012 Annual Conference, 1 June 2012.
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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.