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Showing 1 - 10 of 18 results for "Clearing and settlement services"

Treasury responds to CHESS replacement inquiry

ELIZA BAVIN  |  TUESDAY, 4 MAR 2025
... determinations to empower ASIC to make rules to facilitate competition or fair provision of monopoly clearing and settlement services in line with the Council of Financial Regulators' recommendations. The second being that the government progress the ...

ASIC clearing and settlements powers to curb ASX monopoly

KARREN VERGARA  |  TUESDAY, 25 FEB 2025
... markets by establishing clear obligations to promote competitive outcomes in the provision of clearing and settlement services." Further, the benchmarked pricing structure aims to reduce competitive barriers to entry for entities unaffiliated with the ...

MUFG Pension & Market Services awards tech mandate

KARREN VERGARA  |  WEDNESDAY, 15 JAN 2025
... 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 unit dedicated ...

FCX granted 'historic' market licence by ASIC, RBA

ANDREW MCKEAN  |  TUESDAY, 8 OCT 2024
... settlement capabilities. "Following commitments from ASIC to promote competition and innovation of clearing and settlement services in the Australian market, this licence constitutes the first instance of allowing competitors to offer clearing and settlement ...

Regulators given new powers to protect financial markets in crises

ANDREW MCKEAN  |  FRIDAY, 23 AUG 2024
... gives the RBA the power to provide up to $5 billion in support to ensure continuity of critical clearing and settlement services during a crisis event, intended as a last resort where financial failure threatens the stability of the financial system. ...

ASIC proposes cash equity clearing and settlement rules

ANDREW MCKEAN  |  TUESDAY, 30 JUL 2024
... Council of Financial Regulators Regulatory Expectations for Conduct in Operating Cash Equity Clearing and Settlement Services in Australia as enforceable obligations. It also proposes additional requirements for areas including technical interoperability ...

Government proposes framework for clearing and settlement services regulation

ANDREW MCKEAN  |  WEDNESDAY, 17 JAN 2024
The government has released the Corporations and Competition (CS Services) Instrument 2024, a new legislative proposal aimed at regulating clearing and settlement (CS) services. The proposed instrument, issued under the authority of assistant treasurer ...

ASX awards settlement, clearing mandate

KARREN VERGARA  |  MONDAY, 20 NOV 2023
... bourse has entered into an agreement with Mumbai-based TATA Consultancy Services (TCS) to deliver clearing and settlement services. TCS's BaNCS for Market Infrastructure provides end-to-end trading and settlement solutions, including trade matching ...

Experience pathway enshrined in legislation

KARREN VERGARA  |  FRIDAY, 8 SEP 2023
... ACCC has new arbitration powers to oversee disputes about the "terms and conditions of access to clearing and settlement services subject to a Ministerial Declaration". Secondly, the bill gives the First Home Super Saver Scheme more flexibility. This ...

Government targets ASX dominance

ANDREW MCKEAN  |  FRIDAY, 24 MAR 2023
... The Australian government has released draft legislation aimed at promoting competition in the clearing and settlement services market. Under the proposed legislation, ASIC will have the authority to create regulations to encourage competition while ...
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