Published On: Sun, Aug 25th, 2013

ASX Austraclear 2013 Adjustment To Fees

Elmer Funke Kupper, CEO ASX Group

Elmer Funke Kupper, CEO ASX Group

Austraclear is Australia’s settlement system and central securities depository for the wholesale debt market. Its systems provide customers with secure and guaranteed delivery of cash or securities, and efficient electronic registration and record-keeping of transactions.

Austraclear is making a number of adjustments to its fee structure, including the introduction of a revenue sharing scheme, following an annual review.

A summary of the fee changes are detailed in the attached schedule. Key points include:
* Changes in holdings fees and the introduction of a revenue sharing scheme. This revenue sharing scheme will use the same principles of gain-sharing between customers and shareholders that exist in the ASX futures, cash equity trading, clearing and settlement businesses. ASX will review the threshold on this scheme on an annual basis.
* Changes in membership and transaction fees.
* No change to administration fees. ASX has discussed potential changes to these fees with major users of this service and will seek to build those changes into a refresh of its Billing System ahead of the next annual fee review.
* No change to message fees. Ahead of the next annual fee review, ASX will be approaching its customers to review their use of Austraclear messages to see where this service can be amended to provide increased value to customers.
* No change in reporting fees. Similarly, ASX will be approaching its customers to review their use of Austraclear reports to see where this service can be amended to provide increased value to customers ahead of the next annual fee review.

The new fee schedule will come into effect on 1 October 2013.

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