Transcript - Government decision to support competition in finan. Canberra Wednesday, 31 March 2010 SUBJECTS: Government decision to support competition in financial markets, Andrew Robb's comments on Dr Ken Henry, insulation, BHP deal and tax revenues, Stern Hu case, Rio Tinto and ASIC investigations Good morning. Thanks for coming everybody. Earlier today, before the opening of the markets, I announced the Government's support for competition in Australia's financial markets. This is an important development in the operation of Australia's financial markets. This development means that we know that Australian investors, consumers of stockbroking services, will be getting the best possible value for money.
This announcement is important for Australia's ambition to be a financial services centre. Let me turn to some implementation and practical measures. I also said at the time that any alternative market operator could not begin operation until after the transfer of supervision had occurred and that remains the Government's position. Under the TPA? Chi-X Says Aiming to Start Australian Operations in October - Bu. 10-82AD ASIC. 10-82AD ASIC releases guidance on regulation of clearing and settlement facilities Tuesday 20 April 2010 ASIC today released regulatory guidance on its approach to the licensing and regulation of clearing and settlement (CS) facilities. ASIC’s Regulatory Guide 211 Clearing and settlement facilities: Australian and overseas operators (RG 211) has been released in anticipation of more CS facilities seeking to operate in Australia. It responds to international regulatory developments promoting the use of central counterparty (CCP) clearing and settlement of over-the-counter (OTC) derivative transactions.
RG 211 provides guidance on: when an Australian CS facility licence will be required;how to apply for a CS facility licence; andASIC's approach to exemptions.ASIC believes that more specific guidance on the approach we will take to the regulation of CS facilities will assist entities who provide, or who may want to provide, CS facilities in Australia.
Clearing and Settlement News. Chi-X Global Begins Application Process to Bring New PTS - Bloom. Chi-X Global Begins Application Process to Bring New PTS Platform to Japan New Appointments Complete Japan Senior Management Team Business Wire NEW YORK & TOKYO -- November 30, 2009 Chi-X^® Global Inc. today announced that its Japanese subsidiary, Chi-X Japan KK, has begun the process necessary to file a PTS (proprietary trading system) application with the Japan Financial Services Agency (FSA) in anticipation of launching a displayed, alternative equities marketplace by summer 2010, subject to FSA approval. Chi-X Global currently operates Chi-X Canada and is a 50 percent owner of Chi-East, the joint Chi-X Global / Singapore Exchange Limited non-displayed trading platform scheduled to launch in mid-2010, subject to regulatory approval.
Chi-X Global is a subsidiary of electronic trading pioneer Instinet Incorporated, which is the controlling shareholder of Chi-X Europe and is a wholly-owned subsidiary of Nomura Holdings, Inc. Chi-X's new hit on ASX monopoly. ASX's shares drop on Chi-X market entry. Australian Securities Exchange (ASX) shares fell to a nine-week low after Chi-X Australia Pty Ltd was given approval to create a rival electronic market exchange that will break the ASX's two-decade monopoly.
Minister for Financial Services Chris Bowen announced on Wednesday in-principle approval of Chi-X's application for an Australian market licence that would give investors a choice of market exchanges in making trades. US-based Liquidnet and AXE ECN have also made applications, which Mr Bowen said would be considered on their merits. But Chi-X's licence application is the most advanced and a final decision on it will be made after the necessary regulatory framework is in place.
Advertisement ASX had no comment on Chi-X's pending entry, but reiterated that the critical issue was not whether competition should exist. Chi-X's entry into the Canadian market in February 2008 had a similar effect, with the market share of TMX Group's Toronto Stock Exchange, dropping to 66 per cent. Chi-X Global Makes Strategic Appointments by Advanced Trading. Chi-X Global has hired Steven Silberstein as Chief Information Officer and Gregory Smith, CEO of Chi-X Global Technologies (Chi-Tech), has been named Vice Chairman.
Silberstein will be responsible for all aspects of Chi-X Global's technology and will lead the technology coordination between its market centers, global trading participants and Chi-Tech's trading technology development. He will be a member of the Chi-X Global Executive Committee and will report to John Lowrey, CEO of Chi-X Global, and Smith. In a statement Lowrey said, "With investors around the world demanding more efficient markets, there are more opportunities than ever for Chi-X Global, both in delivering the platforms themselves and in technology provision. Steve is an extremely well-respected industry practitioner, and is the ideal choice to help us execute on our technology vision. " Asia Pacific. LCH.Clearnet Group - Media Centre - Press Releases - 2009-11-18.
LONDON and SINGAPORE – 18 November 2009 – Chi-East, a joint venture of Chi-X® Global Inc. and Singapore Exchange Limited (SGX), and LCH.Clearnet Limited (LCH.Clearnet) announced today that Chi-East will appoint LCH.Clearnet as the central clearing facility for its pan-Asian non-displayed trading platform, scheduled to launch in mid-2010. Subject to agreeing to terms with Chi-East and the requisite regulatory approvals, LCH.Clearnet’s EquityClear service will clear the Australia, Hong Kong and Japan-listed securities available for trading on Chi-East. SGX-listed stocks will be cleared and settled through The Central Depository (Pte) Limited (CDP), SGX’s securities clearing house and depository, via SGX’s securities clearing members. “Providing a centralised clearing facility for our trading participants is an integral part of our overall business strategy.
Wayne Eagle, Director, Equity Services, LCH.Clearnet, said, “We are delighted to be a part of such an innovative venture. Transcript - Government decision to support competition in finan. About AFSSDA : AFSSDA.