Settlement participants play a key role in the operation of ASX markets by ensuring that securities are delivered and payments are made.
A broker must either be a settlement participant or engage one to offer settlement services in order to trade.
Becoming a settlement participant
There are three types of settlement participant: general, account and specialist.
General participants can:
- hold, transfer and settle approved financial products in batch settlements
- act as settlement agents on behalf of ASX Clear participants
- establish and maintain participant-sponsored holdings.
- can participant in certain aspects of the holding and transfer of approved financial products
- can establish and maintain participant-sponsored holdings
- cannot perform batch settlements.
Specialist settlement participants are admitted for limited purposes, such as acting as offerors in relation to takeover schemes, or for processing allocation components in certain batch settlements.
Connecting to CHESS
Settlement participants access CHESS through a direct interface setup. ASX’s participant operations teams will help you to establish appropriate market infrastructure services and to access our testing environment.