The ASIC has started using a $44 million surveillance system called Market Analysis Intelligence, or MAI, which can pick up on insider and trading and market manipulation on the ASX faster than ever before.
ASIC commissioner Cathie Armour told The Financial Review MAI will allow more focus on suspicious trading by identifying serious cases earlier and delivering fewer false alarms.
While MAI can process a billion order book transactions a day, much more than required for the size of the ASX, some brokers are urging the commission to look beyond equities and focus on markets such as the fixed interest market which are vulnerable to misconduct.
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