The Australian Securities and Investment Commission (ASIC) has introduced new rules to promote competition in Australia's clearing and settlement services, requiring the ASX (ASX: ASX) to provide these services transparently and fairly, according to a Tuesday statement by the regulator.
The rules, marking the first use of ASIC's new powers under the Competition in Clearing and Settlement service reforms, mandate the ASX to publish a comparison of its fees with international providers, per the statement.
The ASX will be required to ensure fair pricing, transparent access to services, and open technology systems for third-party access, the statement added.
The new rules, set to take effect in three months, were developed after public consultation and feedback from key stakeholders, including the Reserve Bank of Australia and the Australian Competition and Consumer Commission.
ASX did not immediately respond to a request for comment from MT Newswires.
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