Futures trader, ICAP, has paid $50,000 in penalties relating to three breaches of the Corporations Act.
The Australian Securities and Investments Commission (ASIC) Market Disciplinary Panel (MDP) found ICAP had executed trades “with the intent to exclude other participants on two separate occasions.
And it failed to make an enquiry through the message facility and wait the prescribed period prior to executing trades.
For these three contraventions, the MDP issued ICAP with an infringement notice specifying a total penalty of $50,000.
