AUSTRALIA: ASX Updates Cash Equities Clearing and Settlement Code of Practice

Wednesday October 12 2016

ASX has updated its Cash Equities Clearing and Settlement Code of Practice (Code) to align with the set of Regulatory Expectations released today by the Council of Financial Regulators (CFR).

The Regulatory Expectations provide a framework for ASX’s conduct in operating its cash equities clearing and settlement (CS) services while it remains the sole provider of these services. They relate to key governance, pricing and access matters.

ASX’s core commitments under the Code include providing transparent and non-discriminatory pricing of and access to its CS services, and protecting the confidential information of users of its services. ASX has made additional commitments, including retaining at least 50% non-executive directors on its CS boards who are independent of ASX Limited.

Under the updated Code, the Business Committee is recognised as the primary advisory body to ASX in the operation of its CS services and infrastructure

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