The Australian Securities and Investments Commission (ASIC) has today released the findings of its third assessment of Yieldbroker Pty Limited (Yieldbroker).

Yieldbroker is licensed to operate two markets, the dealer-to-client market and the interdealer market. During the assessment period, Yieldbroker operated only the dealer to client market.

ASIC concluded that Yieldbroker has adequate arrangements for the supervision of its market in accordance with its obligations under the Corporations Act.

A copy of the assessment report is available form ASIC's website at www.asic.gov.au or by calling the ASIC Infoline on 1300 300 630.

Background

A financial market is defined as a facility through which offers to buy and sell financial product are regularly made. Anyone who operates a financial market in Australia must obtain a licence to do so, or otherwise be exempted by the Minister.

As part of the conditions of granting a licence to operate a financial market, the licensee must supervise the market in accordance with Part 7.2 of the Corporations Act.

Under the Act, ASIC is required to conduct an assessment of how well operators of licensed financial markets are complying with their obligations to supervise the facilities’ operations. ASIC must do this at least once per year in relation to each licensee. ASIC can also assess how well a licensee is complying with its other obligations under the Act.