Asia-Pacific Tour Diary 2

michael-shashoua-waters

The Australian Securities Exchange's (ASX) plans for a straight-through processing template for corporate actions to be launched next year, along with related discussions with interested parties about what fields to include in those templates, has been brought to you by ... Chi-X.

That may sound improbable, but the presence of a competing trading venue in the Australian securities market is pushing the primary exchange to be more responsive on data processing and management services.

Since Chi-X launched its Australian trading venue in October, the Australian Securities and Investments Commission (ASIC) took over a lot of market supervision that had previously been done by the Australian Securities Exchange (ASX), because the exchange could not practically regulate its competitor. As a result, the ASX had to begin working with ASIC to update its listing rules so market participants had to report electronically, not just by PDF or fax. This development is now reaching its logical extension in corporate actions with the ASX automated template effort.

The ASX corporate actions upgrade is being done not just with Chi-X in mind, however, says an executive at a global transaction data systems provider. The effort allows the ASX to show that it offers a world-class set of services when compared to other exchanges worldwide. "That fits with their strategy of internationalizing, raising the game and being an attractive venue," the executive says.

One question still remains, however. Will the Australian markets agree that there is a compelling business need for the greater corporate actions processing capability the ASX is developing? The exchange does have key players in the industry involved in its discussions through advisory groups, so chances are the buy-in will be there.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Waters Wrap: The tough climb for startups

Anthony speaks with two seasoned technologists to better understand why startups have such a tough time getting banks and asset managers to sign on the dotted line.

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here