Australia to Issue Dark Pool, High Frequency Rule Changes

Dark pool operators in Australia will have to give investors the choice to opt out of trading in their systems and operate by a common set of procedures that do not discriminate between users, according to the government.

Details of the new rules will be released next week, Justin Koek, media adviser to Australia’s Assistant Treasurer David Bradbury said in an e-mailed statement today. Changes will come into effect in stages during the next nine months, according to a statement from Bradbury’s office. The Australian Securities and Investments Commission will issue guidance to clarify the new rules, the release said. Dark pools are private venues that don’t display prices until after trades take place.