ASIC fines Online trading platform D2MX for technical failures.
By Sums on Friday,
Australia Securities and Investments Commission (ASIC) recent announced a press news that ASIC fines Online trading platform D2MX for them technical failures.
D2MX Pty Ltd (D2MX) agreed to pay a fine of $ 120,000 to be a period of infringement by the market discipline Committee (PDM) were received. The penalty reflects the fact that D2MX did not take place in the organizational and technical resources. That including having price movement automatic filters as appropriate to the accounts of 95 direct market access client (DMA) from August 2011 to March 21, 2014. There the company had not put in place processes to verify that the ‘price movement’ automatic filters were successfully applied to the DMA 95 customers. The ASIC Panel also added that while commercial messages 446 did not actual improper on the market abuse. misconduct however, they have the potential to interfere with market integrity. The ruling led to a risk of diminishing public confidence in the integrity of market operations.