How to become an ASX participant
The ASX Customer Management function is the central point of contact for any enquiries relating to participation, including new or existing participants. The Customer Management team can be contacted on +61 2 9227 0787 or email@example.com.
The Customer Management team facilitates the admission process by liaising with relevant internal and external stakeholders to ensure all obligations under the ASX Operating Rules are satisfied.
The following participant options are available:
Summary of the admission process
The admission process is non-discriminatory and will only proceed once all rules and conditions have been satisfied under ASX’s licence as a Market Operator. The following is a high-level overview of this admission process.
- Potential applicants should review ASX’s Guide to Becoming a Participant and discuss the participant options with ASX Customer Management team.
- Potential applicants will need to decide which participant type is appropriate for their business and decide their preferred access model.
- Applicants should then prepare and submit an ASX Group Participant Application Form (the Support Guide provides guidance to applicants).
- Applicants will need to liaise with ASX (and ASIC) throughout the application assessment process to ensure their ability to meet the obligations under the rules upon admission. Trading Participants are supervised under ASIC’s Market Integrity Rules (MIRs) upon admission. As such, participants should ensure awareness of their obligations under the MIRs.
- Applicants will be admitted and be in a position to commence operations as an ASX participant.
The timeline for admission as a participant is dependent on many factors including participant type, access model, risk management and regulatory clearance (ASIC, APRA, RBA). The applicant’s own readiness is a key factor in determining the admission timeframe.
The ASX Customer Management team will manage your needs and assist you in lodging a participant application.
Factors for participants to consider when applying
- Regulatory obligations – AFSL requirements, corporate governance, ASX/ASIC Operating Rules.
- Technical provisioning – network connectivity, infrastructure procurement, system configuration, testing and training requirements.
- Compliance and risk management obligations – development and implementation of policies and procedures to be reviewed and approved by ASX.
- Third-party arrangements – whether front, middle or back-office will be supported by a third-party and, if so, whether arrangements and agreements are in place.
Application fees and annual fees vary according to the participant type. However, a high level summary of these fees is provided below.
|ASX||ASX Clear||ASX Settlement|
The operational costs - transactions, market information and infrastructure - can be found in the relevant Fee Schedules.
Once admitted as an ASX participant, the Customer Management team will undertake a formal handover to your dedicated ASX Account Manager and Compliance Adviser to assist you with any queries.
To amend your participation at any time in the future, please contact the ASX Customer Management team.
Should you have any serious concerns please contact Danielle Henderson, Head of Relationship Management for ASX, on +61 2 9227 0535 or firstname.lastname@example.org.
Services for Approved Market Operators
Trade Acceptance Service
A trade execution venue for ASX-quoted securities can use ASX’s Trade Acceptance Service (TAS) to put in place the clearing and settlement arrangements it needs to obtain an Australian market licence. ASIC is responsible for the granting of Australian market licences.
The TAS provides non-discriminatory access to clearing and settlement arrangements for Approved Market Operators (AMOs). AMOs are typically licensed market operators, such as Chi-X.
The TAS enables trades in CHESS-eligible ASX-listed or quoted securities executed on any Australian licensed trading platform to be cleared and settled by ASX Clear and ASX Settlement in an identical fashion to trades executed on ASX’s own cash equity market.
Standard access is currently provided to Chi-X Australia under the TAS.
If you are interested in being provided with the TAS, please contact Danielle Henderson, Head of Relationship Management for ASX, on +61 2 9227 0535 or email@example.com.
Contractual framework and service fees
The TAS is made available to AMOs in accordance with a published set of contractual terms of service, which include fees for the TAS, an application form, operational and technical standards, and an information handling standard.
An initial application fee of $10,000 (excluding GST) and an annual service fee based on the AMO's nominated term of service will apply to the TAS. The TAS is available with pricing options for one, three or five-year terms.