ASIC Scraps Minimum-Resting-Time Plan for Equity Trade Orders
This article is for subscribers only.
Australia’s securities regulator said it will not proceed with a proposal to impose a minimum time period that small equity trade orders must remain on order books before they can be withdrawn.
Greg Medcraft, chairman of the Australian Securities and Investments Commission, announced the decision at a conference in Sydney today. ASIC had included the measure as part of proposals to improve liquidity for investors.