ASIC's role in financial markets and clearing and settlement facilities
A financial market is a facility through which offers to buy and sell financial products are regularly made. A clearing and settlement (C&S) facility provides the mechanism for parties to a transaction in financial products to meet their obligations to each other. Anyone who operates a financial market of C&S facility in Australia must obtain a licence to do so, or otherwise be exempted by the Minister (or an ASIC delegate).
ASIC is responsible for the supervision of operators of financial markets, C&S facilities and of market participants. We advise the Government (or an ASIC delegate) on changes to licensee operating rules and on applications for new market and C&S facility licences.
ASIC is responsible for supervision of real-time trading on Australia's domestic licensed markets. This supplements its existing responsibility for enforcement of the laws against misconduct on Australia's financial markets and its supervision of Australian Financial Services Licence holders.