Tag: OpenMarkets Australia

ASIC ban
July 06, 2023 BY Steffy Bogdanova

Australian broker Openmarkets pays $4.5 million penalty

On 2,011 instances, this Openmarkets client executed bid-and-ask orders simultaneously for the same security at the same price. The ASIC stated that the broker should possess a suitable system to detect the possibility of these orders being placed with the intention of manipulating trading prices or creating a deceptive impression of active trading. Curiously, the…

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OpenMarkets ASIC license conditions
December 09, 2016 BY LeapRate Staff

ASIC imposes license condition on online broker OpenMarkets Australia

Australia financial regulator ASIC has announced that it has imposed additional conditions on the Australian financial services licence of online broker OpenMarkets Australia Limited. This action follows surveillance activities which identified concerns in OpenMarkets: arrangements for identifying and preventing potential market misconduct (for example, inadequate automated filters in its automated order processing (AOP) systems and…

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