ASX has agreed to work with industry stakeholders and regulators to develop a Code of Practice for its cash equities clearing and settlement facilities within the next 6 months. We will continue to monitor the progress of the Code of Conduct.
Following the Treasurer’s announcement retaining the current market structure for clearing and settlement of cash equities, ASX announced on 11 February 2013 that it will work with industry stakeholders and regulators to develop a Code of Practice for Clearing and Settlement of Cash Equities in Australia within the next 6 months.
The Code of Practice will be consistent with the ASX customer charter published last year and the principles set out by the Council of Financial Regulators in its recommendations to the Treasurer.
In accordance with the Treasurer’s announcement, the Code of Practice will be reviewed after 2 years.