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Grower levies

 

Settlement against ASX differs to traditional grower contracts in a number of ways. One important difference is that when selling through ASX, growers are responsible for organising and making the payment of their levy returns.

The settlement process for ASX is standardised and, as best as possible, serves the needs of the entire industry. In many instances, settlement with the ASX Clear (Futures) is based on omnibus accounts. That is, there is one account for a Clearing Participant. ASX Clear (Futures) cannot distinguish grower deliveries, does not know the original sale price and does not know the cost of cart from farm to silo. ASX Clear (Futures) therefore cannot calculate and pay levy contributions on behalf of the grower.