Submission to ASIC Consultation on Equity Market Structure Regulatory Framework
On 21 January 2011, ASX made a submission in response to ASIC Consultation Paper 145 Australian Equity Market Structure: Proposals.
Listing Rule Amendments - new rules and timetables for common forms of capital raisings
On 17 January, ASX released a consultation paper and exposure draft which sets out amendments ASX proposes to make to its Listing Rules to facilitate common forms of renounceable and non-renounceable capital raisings without the need for listing rule waiver. These types of capital raisings are commonly referred to as “accelerated rights issues” or “Jumbo”, “Rapid” and “Sareo”. Comments are requested by Friday 25 February 2011.
Trade Cancellation Policy
On 6 October 2010, ASX released a consultation paper on its Trade Cancellation Policy (PDF 200KB). The paper outlines proposed changes to ASX and ASX 24 cancellation policies. In developing its cancellation policies, ASX has taken into account recent overseas events, including the 6 May US "flash crash" and consequential changes to US exchange trade cancellation policies. The approach adopted by ASX is broadly consistent with trends towards a transparent and certain cancellation policy to manage the risks of market mis-pricing borne by an exchange operator.
Listing Rule Amendment Notification - Remuneration Committee Requirement For The Top 300 Listed Entities
On 4 August 2010, ASX released the details of amendments to the Listing Rules (PDF 41KB), which require S & P / ASX 300 Index entities to have a remuneration committee comprised solely of non-executive directors. The amendments to the Listing Rules will come into effect on 1 July 2011.
New Operating Rules are to be introduced for the ASX and ASX 24 (SFE) markets on 1 August 2010. A document explaining the changes has been released.
On 19 July 2010, ASX released the details of the amendments to the Listing Rules (PDF 56KB), which require listed entities to adopt and disclose a company trading policy, and an associated Guidance Note - Guidance Note 27 - Trading Policies (PDF 38KB) - to assist listed entities to comply with their obligations under the relevant listing rules. The amendments to the Listing Rules will come into effect on 1 January 2011.
ACH consultation paper: equity market margining (PDF 262KB)
This document outlines proposed enhancements to ACH's central counterparty risk management controls, specifically the introduction of routine daily margining of the equity cash market.
Commencement of Listing Rule amendments about trading policies and remuneration committees (PDF 32KB)
ASX announces commencement dates for amendments to the ASX Listing Rules.
ASX Net is a low latency, fully managed network solution for connectivity to ASX. It provides high performance access to ASX services and is a replacement for the existing ASX NiPPA network.
ASX announces its new fee and rebate schedule to begin on 1 July 2010, coinciding with the introduction of new trade execution services and functionality for the equity market in late June.
Update to clearing and settlement arrangements for potential operators of trade execution platforms for CHESS - eligible ASX-quoted securities
ASX has released the amended Legal Terms for the Trade Acceptance Service.
Listing Rule amendments - new requirements for a remuneration committee and a company trading policy (PDF 120KB)
On 22 April 2010, ASX released an Exposure Draft outlining the proposed amendments to the ASX Listing Rules introducing requirements for: listed entities to adopt and disclose a company trading policy; and the top 300 ASX listed entities to have a remuneration committee that is comprised solely of non?executive directors.
Comments are sought in relation to the proposed remuneration committee requirements, and whether the requirement to have a remuneration committee should be extended to the top 500 ASX listed entities, by 31 May 2010.
The ASX Corporate Governance Council has released for public comment proposed changes to the Corporate Governance Principles and Recommendations (Principles and Recommendations) in relation to diversity, remuneration, trading policies and analyst briefings.
Summary of submissions received on Consultation Paper: ACH Central Counterparty Risk Management Controls (PDF 117KB)
This document provides a brief recap of the key initiatives outlined in the Consultation Paper entitled ACH Central Counterparty Risk Management Controls and a high level summary of the responses received from the market.