ASIC today released a consultation paper to seek views on the application by the Financial and Energy Exchange Limited (FEX) for an Australian market licence.

FEX proposes to operate an exchange market for energy, commodity, and environmental derivatives. FEX has applied for a domestic Australian market licence under Part 7.2 of the Corporations Act 2001.

Feedback to CP 149 Application for an Australian market licence - Financial and Energy Exchange Limited will help ASIC formulate advice to the Minister for Financial Services and Superannuation, who is ultimately responsible for granting the licence.

The consultation paper provides background information on FEX and the FEX market. The paper then seeks views on the arrangements for monitoring compliance with the FEX operating rules, clearing and settlement processes and a compensation fund.

ASIC is seeking feedback on the issues raised in this consultation paper by 18 April 2011.

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CP 149 Application for an Australian market licence - Financial and Energy Exchange Limited.