How ASX supervises the market

ASX Markets Supervision oversees compliance with ASX’s Operating Rules (Listing Rules, Market Rules, Clearing Rules and Settlement Rules) and SFE's Operating Rules.  This involves:

  • Supervising listed entities;
  • Supervising trading activity in the equities and futures markets;
  • Supervising Market Participants such as stockbrokers, and Clearing and Settlement operators;
  • Meeting certain regulatory obligations of the ASX Group under the Corporations Act; and
  • Cooperating with other regulatory bodies like ASIC and ACCC.

ASX Markets Supervision has four core supervisory units:  Issuers, Participants, Futures Supervision and Prudential Risk and Enforcement.  The Disciplinary Tribunal also has been transferred to ASX Markets Supervision.

Further information

ASX Markets Supervision Structure

Visual representation of ASX Markets Supervision Structure

The key responsibilities of Issuers are:

  • Monitoring compliance by listed entities with the Listing Rules, with particular emphasis on continuous and periodic disclosure requirements;
  • Reviewing proposals for listed entity re-organisations and restructures, new issues of securities, and significant transactions;
  • Processing applications from equity, debt and warrant issuers for admission to the official list; and
  • Processing applications for waivers from the Listing Rules (in relation to equity and debt issuers) and the Market Rules  (in relation to warrant issuers).

More information on Issuers

The key responsibilities of Participants are:

  • Monitoring compliance by Market Participants of Market Rules and Clearing and Settlement Rules;
  • Market Surveillance; and
  • Investigations into breaches of continuous disclosure rules, market manipulation and insider trading, and breaches of Market Rules and Clearing and Settlement Rules.

More information on Participants

The key responsibilities of Enforcement are:

  • ASIC notifications; and
  • Referring matters to the Disciplinary Tribunal.

More information on Enforcement

The key responsibilities of the Regulatory Policy Unit are:

  • Development of regulatory policy, particularly in relation to the content of ASX's Operating Rules;
  • Developing ASX's response to external public policy developments; and
  • Providing secretariat functions to the ASX Corporate Governance Council, Regulatory & Public Policy Unit Roundtable and the ASX Policy Committee.

More information on Regulatory Policy

The key responsibilities of Futures Supervision and Prudential Risk are:

  • Monitoring compliance by Participants of Operating Rules of Sydney Futures Exchange and the Operating Rules of SFE Clearing;
  • Market Surveillance;
  • Investigations into breaches of the Operating Rules of Sydney Futures Exchange and the Operating Rules of SFE Clearing;
  • Prudential Risk Management monitors the financial strength of Clearing Participants;
  • Review Participant requirements prior to admission;
  • Administering capital Rules and procedures;
  • Review and analysis of participant capital returns and annual financial returns;
  • Review and analysis of participant Net Tangible Asset Returns; and
  • Participant advice regarding capital requirements.

More information on Futures Supervision