After his PJC appearance last month, FinClear CEO David Ferrall has written to politicians calling for competition to be at the heart of new laws for ASX.
FinClear CEO David Ferrall says the ASX cannot be relied upon to fix the mess it created after its failure to upgrade CHESS, and called on policymakers to strip the exchange of oversight around deciding what alternative system will ultimately clear and settle trades in the equity market.last month’s Parliamentary Joint Committee on Corporations and Financial Services
and to the committee that it had appointed new managers and formed a new consultative committee to draw up a revised plan for the critical market infrastructure.Oscar Colman This would diversify risk “away from a single point of concentration”, and was a way for regulators “to ensure the Australian market remains competitive, ensuring there is continued inward investment and a reduction of charges and fees that impact all Australians through their super funds”.to “set minimum, enforceable conditions to facilitate a competitive environment for clearing and settlement”.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX LIVE: ASX falls, US regulators to protect all depositors in failed Silicon Valley BankAustralian shares are down 0.6pc; New York state regulators close Signature Bank; US futures rally on Fed statement; Aussie bond yields sink; Fletcher Building served with class action; Xero ‘no material exposure’ to SVB. Follow updates here.
Read more »
Live: ASX set for bumpy start after Silicon Valley Bank collapseThe Australian share market is set for a bumpy start amid the fallout from the collapse of startup-focused lender Silicon Valley Bank (SVB), the biggest US bank failure since the 2008 financial crisis.
Read more »
ASX to fall as collapse of Silicon Valley Bank hangs over marketsShares are set to open lower, following Wall Street’s retreat after Silicon Valley Bank failed. US February CPI, labour force data top weekly agenda.
Read more »
ASX down 0.6 per cent as banks, tech stocks sinkAustralia’s most valuable banking, tech and consumer stocks dragged the local sharemarket 0.6 per cent lower in the first hours of Monday’s trading as investors digested the implications of Silicon Valley Bank’s collapse.
Read more »
The ASX company helping to solve electric car ‘range anxiety’Carbon Revolution’s CEO says the lightweight wheels the company makes can extend the range of an EV by as much as 10 per cent before the vehicle needs a recharge.
Read more »
The ASX companies exposed to the SVB collapseLife360 and SiteMinder are among the ASX-listed companies that have previously disclosed that they banked with failed venture capital lender Silicon Valley Bank.
Read more »