Looks like ASIC is really going to investigate what it terms as "dark liquidity" and "high frequency trading"...See ASIC release:
http://asic.gov.au/asic/asic.nsf/byHeadline/12-290MR%20ASIC%20makes%20key%20announcements%20on%20market%20structure%2C%20dark%20liquidity%20and%20high%20frequency%20trading?opendocument
