Licensed and exempt clearing and settlement facilities
A clearing and settlement (CS) facility provides the mechanism for parties to a transaction in financial products to meet their obligations to each other. Anyone who operates a CS facility in Australia must obtain a licence to do so, or otherwise be exempted by the Minister (or an ASIC delegate).
ASIC is responsible for the supervision of operators CS facilities. We advise the Government (or an ASIC delegate) on changes to licensee operating rules and on applications for new CS facility licences.