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ASX today released its draft Code of Practice for Clearing and Settlement of Cash Equities in Australia for industry consultation.
ASX is developing the Code following an announcement by the Deputy Prime Minister and Treasurer on 11 February 2013, to defer a decision on any licence application from a central counterparty seeking to compete in the Australian cash equity market, thereby retaining the current market structure for the clearing and settlement of cash equities for the next two years.
The draft Code sets out ASX’s commitment to:
- establish an ongoing advisory forum that allows users and stakeholders to provide input to the Boards of ASX Clear and ASX Settlement;
- transparent and non-discriminatory pricing of clearing and settlement services; and
- transparent and non-discriminatory terms of access to clearing and settlement services
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