This article appeared in the July 2008 Listed @ ASX email newsletter

Launch of a new market service for product manufacturers

This year ASX will be launching a new market service, providing Managed Funds, Exchange Traded Funds and Structured Products a more tailored framework for quotation on the ASX market and access to ASX back office clearing settlement services.

The new service is beneficial for both domestic and international product issuers that provide investment products for both retail and institutional investors but who have not, traditionally, been provided with a dedicated operating framework within the exchange-traded environment.

ASX is a consistent innovator within the listed structured products and managed funds business and recognition of its progress came with the Exchange of the Year 2007 award in the Structured Products Asia Awards 2007. The judges recognised ASX as a stand out Exchange in the region for “consistent innovation, market responsiveness, and for the breadth of initiatives it has brought to the Structured Products business.” The launch of this new market service was one of the key initiatives referred to by the judges in their decision making process.

Key benefits of the new service to product issuers include:

  • Increased distribution and visibility
  • Greater administration efficiency
  • Liquidity and certainty of transactions
  • Increased flexibility through the unbundling of the 3 core advantages of listing, allowing product issuers to select the elements that work best for their particular product: listing, trading and clearing and settlement, listing and settlement or listing
  • Access to the fast and economical CHESS clearing facilities
  • Increased profile and prestige
  • The opportunity for international funds to be sponsored into listing
  • Recognition under Anti-Money Laundering rules

The service will be supported by a new Rules framework, known as the AQUA Rules, to list these products on ASX. 

This new service expands the range of ASX services beyond equities, A-REITS (listed property trusts), listed investment companies and warrants, all of which are listed under either the ASX Equity Listing Rules or the ASX Warrant Listing Rules. 

For more information about ASX’s new service, visit the ASX website or contact:
Annmaree Varelas
Manager, Listed Funds, Warrants & Structured Products, ASX
Ph: +61 9227 0318

Copyright 2008 ASX Limited ABN 98 008 624 691. All rights reserved 2008.
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