The Australian Securities and Investments Commission (ASIC) has released the findings of the following eight annual assessments:
1. Australian Pacific Exchange Limited (APX);
2. Bloomberg Tradebook Australia Pty Ltd (BTA);
3. Board of Trade of the City of Chicago Inc (CBOT);
4. Chicago Mercantile Exchange Inc (CME);
5. Golden Circle Limited (GCL);
6. National Stock Exchange of Australia Limited (NSX);
7. Reuters Transaction Services Limited (RTSL); and
8. Yieldbroker Pty Limited (Yieldbroker).
ASIC has concluded that each market has adequate arrangements for the supervision of its market in accordance with the obligations under s792A(c) of the Corporations Act (the Act).
A financial market is defined as a facility through which offers to buy and sell financial products 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 Act.
Under the Act, ASIC is required to conduct an assessment of the extent to which licensed financial markets are complying with their obligations to supervise their markets. 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.
End of release
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