National Australia Bank has announced that it will redeem US$600 million of perpetual capital notes on September 26 - their first optional redemption date. The notes were issued in 2009 and qualified as additional tier one capital. The notes will be redeemed at their cash redemption price of US$1000 principal plus US$40 of interest. Macquarie Securities (Australia) has paid a penalty of A$120,000 under an infringement notice from the Markets Disciplinary Panel. The penalty was issued for, among other allegations, failing to prevent the entry into the Chi-X trading platform of an erroneous order (despite receiving automated filter alerts) which "resulted in a market for an equity market product not being both fair and orderly", on two separate occasions; and for failing to have in place, over the relevant period, appropriate automatic filters (specifically not vetting orders against tighter Open Session State AOP filter parameters which would have triggered a filter alert for the orders being greater than seven per cent from the last traded price). The MDP specified a penalty of $60,000 for both alleged contraventions.