Open Markets has paid a penalty of $200,000 to comply with an infringement notice given to it by ASIC's Markets Disciplinary Panel (MDP).
According to a statement by ASIC, the MDP had reason to believe that OpenMarkets breached the market integrity rules in relation to the ASX and Chi-X.
The rules "require market participants to have appropriate filters in place for use of their automated order processing system (AOP)", said ASIC in a statement.
The MDP found that OpenMarkets did not have appropriate filters to:
OpenMarkets avoided a larger penalty of $560,000 by agreeing to the imposition of conditions on their licence in December 2016.
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