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Services for approved listing market operators

ASX’s Settlement Facilitation Service provides settlement arrangements for unaffiliated Approved Listing Market Operators (ALMOs) in respect of the CHESS-eligible financial products listed on their markets.

Settlement Facilitation Service

ASX’s Settlement Facilitation Service provides settlement arrangements for unaffiliated Approved Listing Market Operators (ALMOs) in respect of the CHESS-eligible financial products listed on their markets. There are two options for the settlement arrangements:

  1. A Transfer Facilitation Service where CHESS-eligible ALMO-listed financial products can be transferred in real-time by ASX Settlement participants through CHESS. Payment is handled bilaterally by participants outside of CHESS or
  2. A DvP Facilitation Service where CHESS-eligible ALMO-listed financial products can be settled on a delivery versus payment (DvP) basis by ASX Settlement participants through the CHESS settlement batch.

ASX Settlement has also put in place arrangements for unaffiliated ALMO-listed issuers to access the following services:

  • The ASX Primary Market Facility, which provides ALMO‑listed issuers with  DvP settlement services for certain capital raisings, and
  • A Corporate Actions Service, whereby corporate actions for CHESS-eligible ALMO listed financial products can be processed through the settlement facility.

ASX provides the Transfer Facilitation Service, the DvP Facilitation Service, the ASX Primary Market Facility and the Corporate Actions Service to the Sydney Stock Exchange (SSX) and National Stock Exchange of Australia Limited (NSX).

If you are interested in being provided with settlement arrangements under the Settlement Facilitation Service, please contact Karen Webb, Senior Manager, Equity Post Trade Services, on +61 2 9227 0445 or email.

Contractual framework and service fees

The Transfer Facilitation Service and the DvP Facilitation Service is made available to unaffiliated ALMOs on a non-discriminatory basis under a Settlement Facilitation Service Agreement. The terms and conditions of these services are in the standard form Settlement Facilitation Service Agreement. Schedule 4 of the agreement sets out the initial application fee, the annual fee and the fees applicable to each service.

An initial application fee, annual fees and other fees apply to each service. An ALMO which takes up the DvP Facilitation Service will also obtain the functionality of the Transfer Facilitation Service (that is, the submission of demand-transfer settlement instructions by ASX Settlement participants in CHESS). Fees are also payable by the issuers of the CHESS-eligible financial products listed on the ALMO for the set-up and maintenance of securities and sub-registers in CHESS.ALMO issuers will also be subject to other fees that are equivalent to current CHESS issuer fees.

An ALMO must meet minimum technical and operational standards to obtain the Transfer Facilitation Service or the DvP Facilitation Service. The relevant standards are set out in section 4.1A of the ASX Settlement Operating Rules.

Access procedures for ALMOs and application forms

The Access Protocols and Procedures set out the processes and timeframes for ASX to respond to new customer enquiries for standard access to the Settlement Facilitation Service. They also set out the processes and timeframes for new service enquiries by existing customers and enquiries for the enhancement of the Settlement Facilitation Service.  The Access Procedures also provide an overview of the operational support provided under the Settlement Facilitation Service and the Information Handling Standard that ASX has put in place to protect ALMO confidential information.