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Friday 30 November 2018

18-361MR ASIC assessment of Yieldbroker

The Australian Securities and Investments Commission (ASIC) has reported on its assessment of the market operated by Yieldbroker Pty Ltd (Yieldbroker).

ASIC has made recommendations to improve Yieldbroker’s arrangements for conflicts and governance, supervision and enforcement, and systems and controls. More information is available in Report 601 Market assessment report: Yieldbroker Pty Limited (REP 601).

As one of the most important trading venues for AUD and NZD fixed income markets, it is important that Yieldbroker continues to refine its governance arrangements, operational robustness, and cyber resilience on an ongoing basis to continue to meet its regulatory expectations in the future.

Other specialised market operators regulated by ASIC are encouraged to review the findings and recommendations to determine what is applicable to their market operation.

ASIC Commissioner Cathie Armour said, ‘Our assessment of Yieldbroker is designed to ensure the fairness and effectiveness of fixed income markets, underpinned by robust trading infrastructure. This is essential to well-functioning capital markets, which in turn give investors the confidence to invest in businesses.

‘This assessment of Yieldbroker is part of ASIC’s increased strategic focus on the wholesale OTC sector and enhanced use of on-site surveillance and inspections. ASIC will be undertaking further assessments of market platforms in 2019 to promote fair and effective fixed income, currency, and commodities markets’, she said.

Read the report


Section 794C of the Corporations Act empowers ASIC to assess how a market licensee is complying with its obligations.

In conducting our assessments, we may assess how well a market licensee is complying with its obligations under s792A(c), and we may also include other Chapter 7 obligations.

We use the licensees’ self-assessment reports, our observation of the licensees’ performance (including reviews of trading records and surveillance alerts), and market intelligence obtained during our visits to the licensees’ offices and other sources to establish how the licensee has operated its market during the assessment period.

Last updated: 19/12/2018 09:12