February 10, 2013 / 9:27 PM / in 5 years

Australia delays decision on equities clearing competition for two years

SYDNEY, Feb 11 (Reuters) - The Australian government said on Monday it will delay a decision on opening the country’s equities clearing facility to competition for two years, extending the monopoly of stock exchange operator ASX Ltd .

Treasurer Wayne Swan said ASX had agreed to develop a code of practice with key stakeholders to ensure transparent and non-discriminatory access to its infrastructure in the interim.

Regulators will review the situation at the end of the two-year period and consider whether a new entrant should be permitted.

The decision applies only to the clearing of cash equities and does not extend to clearing and settlement services of either exchange-traded or OTC derivative markets or debt markets. (Reporting By Jane Wardell; Editing by Lincoln Feast)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below