New ASX brand and structure for a changing market environment
The Australian Securities Exchange launched a new brand structure on 1 August 2010, when it became known as ASX Group.
The market structure within which ASX operates is changing - customer trading behaviour is changing, the market’s regulatory framework is changing and new trading venues are emerging. ASX has been responding to these changes in a number of ways, including by:
- Developing, and continuing to develop, new market services, such as VolumeMatch (for institutional traders), PureMatch (for high frequency traders), and ASX Best (smart order routing and, potentially, best execution), and improved market data and market access services;
- Engaging with ASIC to facilitate the transfer of certain supervisory responsibilities, as well as providing input to ASIC on a range of policy matters integral to the success of the new market structure; and
- Upgrading our technology including with a new high performance, high capacity equity trading platform (ASX Trade), a new high capacity, low latency network, and a new data centre to expand our co-location services and to meet upgraded business continuity requirements.
The change in the ASX brand structure is another example of how ASX is responding to the changing regulatory framework and changing customer trading behaviour.
ASX Group will be the new overarching brand. It has been developed to better reflect the role of ASX Limited as a group holding company with a range of activities linked by their common strategy: to provide market infrastructure necessary for a globally competitive capital market and a vibrant Australian economy. Other brands in the new structure are:
- Australian Securities Exchange - reflects ASX’s primary, secondary and derivative market services. It represents the markets known as ASX (formerly Australian Stock Exchange) and ASX 24 (formerly Sydney Futures Exchange).
- ASX Clearing Corporation - is a new brand under which ASX’s clearing services will be promoted. It encompasses ASX Clear (formerly the Australian Clearing House) and ASX Clear (Futures) (formerly SFE Clearing Corporation).
- ASX Settlement Corporation - is a new brand under which ASX’s settlement services will be promoted. It encompasses ASX Settlement (formerly ASX Settlement and Transfer Corporation) and Austraclear.
- ASX Compliance - is a new brand under which services are provided to the ASX Group for the ongoing monitoring and enforcement of compliance with the ASX operating rules. This entity replaces ASX Markets Supervision.