ASIC Confirms ASX Readiness to Launch PureMatch
ASIC confirmed November 11 it is satisfied that the Australian Securities Exchange (ASX), prospective participants and data vendors are ready for ASX’s new order book, PureMatch, to commence operating from 28 November 2011.
ASX has confirmed its systems and market data connections have been tested and are operationally ready for the commencement of PureMatch, including a re-testing of its systems in the last week. ASX has also provided a third party expert report that confirms this.
ASX has confirmed to ASIC that the circumstances surrounding the ASX Trade outage of 27 October 2011 have been isolated and will not affect the operation of PureMatch.
PureMatch will commence with a soft launch, trading no more than 10 securities for at least two weeks. ASIC will monitor this limited launch and continue to work with ASX and industry participants to ensure a smooth and orderly transition and to maintain fair and efficient markets.
ASIC has given a waiver to participants so they do not need to include PureMatch market data in their consolidated best bid and offer data until 1 March 2012.