Sydney, Australia, June 18, 2020 - (ABN Newswire) - NSX Limited (ASX:NSX.AX - News) discloses that its wholly owned subsidiary, the National Stock Exchange of Australia Ltd ("NSXA"), has made significant progress to achieving an August 2020 "go-live" with the TAS service. This follows on from the ASIC regulatory approval, given to the NSXA for the TAS Business Rules in May this year.
The introduction of TAS rules will be a mandatory change for CHESS registered securities and the market at which point NSXA will commence disseminating its trades to ASX Clear through CHESS. Importantly, this development will harmonise the market practice for trade registration and post-trade processing between ASX, NSXA and Chi-X markets, and provide automation that is necessary for scaling NSXA operations. The resulting post-trade automation will also reduce risks and deliver greater efficiencies to NSXA participants.
Securities on the NSXA market that are settled by certificated means are not affected by this change. NSXA operations staff are currently working with ASX and NSXA participants on finalising operational readiness. Once these arrangements have been finalised successfully, NSXA will confirm a go-live date to the NSXA market which is expected to be in Mid-August, but not later than 31 August 2020.
NSXA must provide a minimum of 4 weeks' notice to the market in accordance with ASIC guidelines.
About NSX Ltd:
NSX Limited (ASX:NSX.AX - News) via its wholly owned subsidiary National Stock Exchange of Australia Limited (NSXA) operates the Tier 1 Licensed stock exchange facility for the listing of equity securities, corporate debt and investment scheme units. The company is also involved in trading and settlement activities.
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