Between April 2016 and September 2024, certain Ministerial powers were delegated to ASIC relating to financial market and clearing and settlement facility licensing, operating rules and compensation arrangements. The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 transferred these powers directly to ASIC.
For historical reference, the matters below were determined under the delegation instrument, having considered:
- the matters the Minister was required to consider under Chapter 7 of the Corporations Act 2001
- the guidelines issued by the Minister for delegates
- advice provided by ASIC and, where relevant, the Reserve Bank of Australia (e.g. in relation to clearing and settlement facility matters), and
- feedback from any industry consultation undertaken on specific matters.
Matters determined under delegation
1 July to 23 September 2024
| Entity |
Matter type |
Corporations Act (delegated power) |
Description |
Legislated timeframes |
| Australian Securities Exchange Limited, ASX Clear (Futures) Pty Ltd and ASX Settlement Pty Ltd |
Changes to operating rules |
ss793E & 822E |
Large-scale Generation Certificates (futures contract - deliverable annual), New Zealand Emission Units, Australian Carbon Credit Units (ACCUs) |
28 days |
| FinClear Pty Ltd (trading as FCX) |
CS facility licence application |
s824B(1) |
Application for an Australian CS facility licence to operate a securities settlement facility for the FCX market |
N/A |
| FinClear Pty Ltd (trading as FCX) |
Domestic AML Application |
s795B(1) |
Application for a domestic Australian Market Licence to provide a secondary market trading venue for unlisted securities for approved Issuers |
N/A |
| Cboe Australia Pty Ltd |
Changes to operating rules |
s793E |
Auctions and multi-day orders |
28 days |
1 April to 30 June 2024
| Entity |
Matter type |
Corporations Act (delegated power) |
Description |
Legislated timeframes |
| Tradeweb Australia Pty Ltd |
AML variation |
s797A |
Application for a variation of AML to change name to Tradeweb Australia Pty Ltd |
N/A |
| Australian Securities Exchange Limited and ASX Clear (Futures) Pty Ltd |
Changes to operating rules |
s793E & 822E |
Wallumbilla Gas Futures Contract |
28 days |
| Australian Securities Exchange Limited |
Changes to operating rules |
s793E |
S&P/ASX 200 ex S&P/ASX100 Gross Total Return Index Futures Contract |
28 days |
1 January to 31 March 2024
| Entity |
Matter type |
Corporations Act (delegated power) |
Description |
Legislated timeframes |
| ASX Limited and ASX Clear Pty Limited |
Changes to operating rules |
s793E & s822E |
Removal of rules relating to Futures Products and contemporising the rulebooks |
28 days |
| ASX Clear (Futures) Pty Limited |
Changes to operating rules |
s822E |
Amendments to clarify the allocation of investment losses arising from overnight margining |
28 days |
| ASX Limited |
Changes to operating rules |
s793E |
Rule changes related to ASIC Report 708, including to introduce Cancel-Only session state |
28 days |
| ASX Limited |
Changes to operating rules |
s793E |
AQUA Rule Changes - Updated ETP Naming Conventions and related matters |
28 days |
| ASX Settlement Pty Ltd |
Changes to operating rules |
s822E |
Consequential amendments to ASX Settlement Operating Rules following AQUA Rule Changes for ASX Limited Operating Rules |
28 days |
| Cboe Australia Pty Ltd |
Changes to operating rules |
s793E |
Rule changes - updated ETP Naming Conventions and related matters |
28 days |
| OTCX Trading Limited |
Overseas AML application |
s795B |
Application for an overseas Australian market licence to provide a electronic platform for the trading of equity, FX and interest rate derivatives. |
N/A |
| 360 Trading Networks UK Limited |
Overseas AML application |
s795B |
Application for an overseas Australian market licence to provide a electronic platform for the trading of FX derivatives |
N/A |
1 October to 31 December 2023
| Entity |
Matter type |
Corporations Act (delegated power) |
Description |
Legislated timeframes |
| FEX Global Pty Ltd |
Changes to operating rules |
s793E |
Large-scale generation certificate futures contract (monthly) |
28 days |
| ASX Clear Pty Limited |
Changes to operating rules |
s 822E |
Capital measures for participants |
28 days |
