Clearing and Settlement of Cash Equities in Australia

Services for Approved Market Operators

Trade Acceptance Service

ASX’s Trade Acceptance Service (TAS) provides non-discriminatory access to clearing and settlement arrangements for unaffiliated Approved Market Operators (AMOs). The Trade Acceptance Service enables trades in CHESS eligible financial products executed on any Australian licensed trading platform to be cleared and settled by ASX Clear and ASX Settlement.

The Trade Acceptance Service is currently provided to Chi-X Australia.

If you are interested in being provided with clearing and settlement arrangements under the Trade Acceptance Service, please contact Katie McDermott, General Manager Post Trade and Issuer Services Operations, on +61 2 9227 0161 or Katie.McDermott@asx.com.au.

Contractual framework and service fees

The Trade Acceptance Service is made available to unaffiliated AMOs in accordance with a published set of contractual terms of service, the Trade Acceptance Service Legal Terms

There is an initial application fee of $10,000 (excluding GST) for the TAS. The Operational and Technical Standards applicable to the TAS is available here.

ASX Clear and ASX Settlement also provide financial product-related services to unaffiliated AMOs which are the recipients of the Trade Acceptance Service for financial products listed on their markets.  These services include a clearing assessment of the individual financial products listed on the market of the unaffiliated AMO for which clearing and settlement is sought, and product set-up and maintenance services.  These services are made available in accordance with a published set of contractual terms of service, the Product Services Legal Terms.

The Operational Procedures for unaffiliated AMOs using the Settlement Facilitation Service or Product Services connected with the Trade Acceptance Service are available here.

Access procedures for AMOs

The Access Procedures set out the processes and timeframes for ASX to respond to new customer enquiries for standard access to clearing and settlement arrangements under the Trade Acceptance Service and customer requests for the enhancement or expansion of the Trade Acceptance Service.

The Access Procedures also provide an overview of the service monitoring for the Trade Acceptance Service and the Information Handling Standard that ASX has put in place for the protection of AMO confidential information.

The Access Procedures for AMOs can be viewed here.

A Change Request Application Form for existing or prospective customers requesting an enhancement to, or expansion of, to the standard terms and services provided under the Trade Acceptance Service is available here.

The Access Protocols also set out the process for dispute resolution for pre‑access disputes. The Access Protocols can be viewed here.