Clearing and Settlement of Cash Equities in Australia

Business Committee

The ASX Business Committee was convened by ASX Limited (ASX) under its Code of Practice in August 2013.  In October 2016, ASX updated its Code of Practice (the ASX Cash Equities Clearing and Settlement Code of Practice) to set out its commitment to comply with the Regulatory Expectations for the Conduct of Cash Equity Clearing and Settlement Services in Australia (Regulatory Expectations), and its commitments to users in managing clearing and settlement infrastructure and services for the Australian cash equities market.  Under the revised Code of Practice, the role of the Business Committee was updated as a mechanism for input in to ASX’s governance framework.

The role of the Business Committee is to provide:

  • input for consideration by ASX Management and the Boards of ASX Clear and ASX Settlement on the ongoing operation of cash equities clearing and settlement infrastructure and services provided by ASX;
  • input for consideration by ASX Management and the Boards of ASX Clear and ASX Settlement on setting the ASX investment strategy for cash equities clearing and settlement infrastructure and services development, and the system design, operational arrangements and implementation plan for new cash equities clearing and settlement infrastructure and services provided by ASX;
  • advice to ASX Management to assist in progressing cash equities clearing and settlement initiatives of interest to the industry, with the aim of facilitating service innovation and improving overall market efficiency; and
  • a mechanism for ASX Management and the Boards of ASX Clear and ASX Settlement to consult clearing participants, settlement participants and other market operators regarding their strategic plans and investment decisions in relation to the design, operation and development of the core clearing and settlement infrastructure and services for the Australian cash equities market.

The Business Committee comprises representatives of clearing participants, settlement participants, alternative market operators and relevant industry organisations.  The objective for the Business Committee is for it to comprise executives with a deep understanding of clearing and settlement, for example, Chief Operating Officers.

In some circumstances, it may be appropriate for the Business Committee to appoint and convene technical committees to assist in the performance of its role.  A Technical Committee comprising ASX (Chair) and industry representatives has been formed to focus on CHESS messaging and the adoption of  ISO 20022 messaging.  The adoption of ISO 20022 is a major work‑stream for the CHESS Replacement project and members of the Technical Committee will be involved in the detailed work associated with this work‑stream.  The key objectives, activities and governance of the Committee as well as meeting agendas and papers can be found here.

Meeting Dates for the Business Committee

The Business Committee will meet at least quarterly.  The proposed upcoming meeting dates of the Business Committee are:

2 March 2017 2:00pm – 6:00pm
4 May 2017 12:00pm – 2:30pm
22 June 2017 12:00pm – 2:30pm
3 August 2017 12:00pm – 2:30pm
4 October 2017 12:00pm – 2:30pm
30 November 2017 4:00pm – 6:30pm

All meetings will be held at ASX Limited, 20 Bridge Street, Sydney NSW 2000.

All agendas and minutes for Forum meetings will be made publicly available on this website.

Business Committee Meeting: 22 June 2017

The agenda for the 22 June 2017 business committee meeting is available here. The papers for the 22 June 2017 meeting are available here.

Business Committee Meeting: 4 May 2017

The agenda for the 4 May 2017 business committee meeting is available here. The papers for the 4 May 2017 meeting are available here.

The minutes for the 4 May 2017 Business Committee meeting are available here.

The Business Committee Report to the ASX Clear and ASX Settlement Boards from the 4 May 2017 Business Committee meeting is available here.

Business Committee Meeting: 2 March 2017

The agenda for the 2 March 2017 business committee meeting is available here. The papers for the 2 March 2017 meeting are available here.

The minutes for the 2 March 2017 Business Committee meeting are available here.

The Business Committee Report to the ASX Clear and ASX Settlement Boards from the 2 March 2017 Business Committee meeting is available here.

Business Committee Meeting: 1 December 2016

The agenda for the 1 December 2016 business committee meeting is available here. The papers for the 1 December 2016 meeting are available here.

The minutes for the 1 December 2016 Business Committee meeting are available here.

The Business Committee Report to the ASX Clear and ASX Settlement Boards from the 1 December 2016 Business Committee meeting is available here.

Business Committee Meeting: 31 August 2016

The agenda for the 31 August 2016 business committee meeting is available here. The papers for the 31 August 2016 meeting are available here.

The minutes for the 31 August 2016 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 31 August 2016 Business Committee meeting is available here.

Business Committee Meeting: 15 June 2016

The agenda for the 15 June 2016 business committee meeting is available here. The papers for the 15 June 2016 meeting are available here.

The minutes for the 15 June 2016 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 15 June 2016 Business Committee meeting is available here.

Business Committee Meeting: 17 February 2016

The agenda for the 17 February 2016 business committee meeting is available here. The papers for the 17 February 2016 meeting are available here.

The minutes for the 17 February 2016 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 17 February 2016 Business Committee meeting is available here.

Business Committee Meeting: 26 November 2015

The agenda for the 26 November 2015 business committee meeting is available here. The papers for the 26 November 2015 meeting are available here.

The minutes for the 26 November 2015 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 26 November 2015 Business Committee meeting is available here.

Business Committee Meeting: 27 August 2015

The agenda for the 27 August 2015 business committee meeting is available here. The papers for the 27 August 2015 meeting are available here.

The minutes for the 27 August 2015 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 27 August 2015 Business Committee meeting is available here.

Business Committee Meeting: 27 May 2015

The agenda for the 27 May 2015 business committee meeting is available here. The papers for the 27 May 2015 meeting are available here.

The minutes for the 27 May 2015 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 27 May 2015 Business Committee meeting is available here.

Business Committee Meeting: 4 March 2015

The agenda for the 4 March 2015 business committee meeting is available here. The papers for the 4 March 2015 meeting are available here.

The minutes for the 4 March 2015 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 4 March 2015 Business Committee meeting is available here.

Business Committee Meeting: 27 November 2014

The agenda for the 27 November 2014 business committee meeting is available here. The papers for the 27 November 2014 meeting are available here.

The minutes for the 27 November 2014 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 27 November 2014 Business Committee meeting is available here.

Business Committee Meeting: 27 August 2014

The agenda for the 27 August 2014 business committee meeting is available here. The papers for the 27 August 2014 meeting are available here.

The minutes for the 27 August 2014 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 27 August 2014 Business Committee meeting is available here.

Business Committee Meeting: 7 May 2014

The agenda for the 7 May 2014 business committee meeting is available here. The papers for the 7 May 2014 meeting are available here.

The minutes for the 7 May 2014 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 7 May 2014 Business Committee meeting is available here.

Business Committee Meeting: 19 February 2014

The agenda for the 19 February 2014 business committee meeting is available here. The papers for the 19 February 2014 meeting are available here.

The minutes for the 19 February 2014 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 19 February 2014 Business Committee meeting is available here.

Business Committee Meeting: 9 December 2013

The agenda for the 9 December 2013 business committee meeting is available here. The papers for the 9 December 2013 meeting are available here.

The minutes for the 9 December 2013 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 9 December 2013 Business Committee meeting is available here.

Business Committee Meeting: 16 August 2013

The agenda for the 16 August 2013 Business Committee meeting is available here. The papers for 16 August 2013 meeting are available here.

The minutes for the 16 August 2013 Business Committee meeting are available here.

The Business Committee Report to the Forum from the 16 August 2013 Business Committee meeting is available here.

Contact the Business Committee Chair

The Chair of the Business Committee is Mr Peter Hiom, Deputy CEO ASX.

Communications to the Business Committee can be emailed to: bc.chair@asx.com.au.