Market supervision and competition cost recovery FAQs
This document will be updated from time to time. You can subscribe to receive regular updates from ASIC on billing and other issues of importance to market participants at www.asic.gov.au/market-supervision.
1. What is the new market supervision and competition cost recovery regime?
2. What steps have Treasury and ASIC undertaken to consult with industry on the new cost recovery regime?
3. What steps have ASIC taken to engage with industry regarding the new billing arrangements?
4. How much is the Government seeking to recover from industry?
5. What do the costs relate to?
6. When will the new cost recovery regime commence?
7. Who does it apply to?
8. How will the costs be allocated?
9. How often will operators and participants be billed?
10. What happens to the cost recovery regime after 30 June 2013?
11. What fees will apply to each operator and participant?
12. What securities does the cost recovery regime apply to?
13. Why are the activity-based fees for ASX, Chi-X and their participants based on their number of transactions and messages?
14. What data will ASIC use to calculate the activity-based fees for ASX, Chi-X and their market participants?
15. Can you give me a bit more detail about IMSS data?
16. Will I be told what my percentage of the IMSS message count is?
17. Will non-billable transactions be recognised as executed or reported transactions by the ASIC IMSS for billing purposes?
18. Will cancelled trades be included in the transaction count for billing purposes?
19. Will I be charged twice if a senior Designated Trading Representative (DTR) releases a pending order into the market that was initiated by a junior DTR?
20. Will I be charged for orders in the inactive order pad (ASX)?
21. What controls are in place to ensure the accountability and transparency of ASIC's market supervision costs and billing arrangements?
22. When will operators and participants receive their invoice statements from ASIC?
23. When are fee payments required to be made to ASIC?
24. What payment methods are available?
25. How long does payment processing take?
26. What happens if a payment is dishonoured?
27. What should operators and participants do if they don't receive an invoice statement from ASIC?
29. What correspondence will operators and participants receive from ASIC regarding their fees for ASIC market supervision?
30. What happens if operators and participants do not pay their invoice statement within 60 days (from the day after the end of each billing period)?
31. What correspondence will operators and participants receive if they have not paid their invoice statement within 60 days (from the day after the end of each billing period)?
1.1 Example 1: simple buy order executed in one fill (applies to both ASX and Chi-X)
1.2 Example 2: simple buy order executed in two fills (applies to both ASX and Chi-X)
1.3 Example 3: Simple FaK / IOC order (applies to both ASX and Chi-X)
1.4 Example 4: Simple buy order executed in multiple fills on (applies to both ASX and Chi-X)
1.5 Example 5: Simple sell order executed in multiple fills (applies to both ASX and Chi-X)
