Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 51 - 60 of 402 results for "Clearing"

NPP not suitable as the primary payment system for payday super

MATTHEW WAI  |  WEDNESDAY, 9 APR 2025
... cost effective and reliable." The introduction of NPP is in response to the decommissioning the current Bulk Electronic Clearing System (BECS), but many other nations run at least two payment rails - one real-time and one batch-based. The RBA suggested ...

RBA and ASIC slam the ASX: 'Deeply disappointed'

ELIZA BAVIN  |  MONDAY, 31 MAR 2025
... the letter said. "For some time, the regulators have been raising serious concerns about operational risk at the ASX clearing and settlement facilities. These risks were realised in this major operational incident." The regulators also highlighted their ...

Treasury responds to CHESS replacement inquiry

ELIZA BAVIN  |  TUESDAY, 4 MAR 2025
... its response following the Parliamentary Joint Committee on Corporations and Financial Services report, Competition in clearing and settlement and the ASX CHESS Replacement Project: The CHESS Replacement Project is too important to fail, which examined ...

SEC drops civil enforcement case against Coinbase

ANDREW MCKEAN  |  MONDAY, 3 MAR 2025
... the buying and selling of crypto asset securities. The agency alleged that Coinbase's failure to register as a broker, clearing agency, and national securities exchange deprived investors of key protections, including safeguards against conflicts of ...

ASIC clearing and settlements powers to curb ASX monopoly

KARREN VERGARA  |  TUESDAY, 25 FEB 2025
... monopolistic practices, ASIC's new powers that mandate the ASX to be more transparent on its fees and services relating to clearing and settlements (CS) will kick in three months from now. Under the ASIC CS Services Rules 2025, the ASX will need ...

ASIC proposes further breach reporting relief

ANDREW MCKEAN  |  WEDNESDAY, 19 FEB 2025
... are affected, and losses don't exceed $500. It doesn't, however, extend to breaches of client money rules or clearing and settlement regulations. The Financial Services Council (FSC), which is urging both sides of parliament to adopt a deregulation ...

ASX reports 'record' revenue for 1H25, lags in listings

MATTHEW WAI  |  THURSDAY, 13 FEB 2025
... remains "stable and robust". "We're planning for the first industry test environment for Release 1, which is for the Clearing services component of the project, to open later this month, marking a significant milestone for the project," Lofthouse said. ...

ASIC initiates ASX outage probe

JAMIE WILLIAMSON  |  MONDAY, 3 FEB 2025
... compliance with section 821A(1) of the Corporations Act 2001. This particular section of the Act looks at the obligations of clearing and settlement (CS) facilities, including how they manage systemic risks, and whether they have sufficient resources ...

MUFG Pension & Market Services awards tech mandate

KARREN VERGARA  |  WEDNESDAY, 15 JAN 2025
... the life insurance, pension, and annuities industries. Mumbai-based TCS won a mandate from the ASX in 2023 to provide clearing and settlement services. Last October, the global IT services, consulting, and business solutions provider launched a new business ...

Traders left scrambling over ASX settlement outage

MATTHEW WAI  |  MONDAY, 23 DEC 2024
... last Friday, forcing trade settlements on December 18 and 19 to be processed today. The ASX has since announced that clearing and settlements will process as "normal" at the open of trading this morning. The issue occurred at around noon on Friday. The ...