Monday September 17 2018

News Source: Global Exchanges

Focus: Trading Systems and Technology

Type: General

Country: Australia

Link:




ASIC has updated the market integrity rules to facilitate the introduction of a new type of financial product that securities and derivatives exchange Chi-X Australia Limited (Chi-X) is introducing to its market, known as transferable custody receipts (TraCRs).

The updated rules include TraCRs in the definition of ‘cash market products’ in Rule 1.4.3 of the new consolidated rulebook, the ASIC Market Integrity Rules (Securities Markets) 2017. This will allow appropriate market supervision arrangements for TraCRs by bringing these products into ASIC’s market supervision framework.

In order to quote and trade TraCRs on the Chi-X market, Chi-X has also obtained regulatory approvals for:

  1. a variation to its Australian market licence
  2. a declaration under s1075A(1)(b) of the Corporations Act for TraCRs
  3. amendments to the Chi-X operating rules.

The issuer of TraCRs, Deutsche Access Investments Limited, has also obtained relief in relation to the TraCR product (see instrument 17/0995 in ASIC Gazette A56/17).