Australian Securities Exchange

www.asx.com.au

Tel: 61 2 9227 0400

Fax: 61 2 9227 0280

 

Representatives

Chairman: Mr. Roderic Holliday-Smith

Managing Director and CEO: Mr. Elmer F. Kupper

Types of Securities Traded

Name of Trading Systems

(cash and derivatives)

Trading Hours

Shares

Warrants

Interest Rate

Securities

ETFs

ASX Trade

 

 

 

7:00 – 10:00 (pre-open – brokers enter orders but trades are not executed)

10:00 – 16:00 (Normal trading)

16:00 – 16:10 (pre-closing single price auction phase) (pre-open phase)

16:10 - 16:12 (closing single price auction)

16:12 – 18:50 (late trading occurs over the phone)

Options and Futures over indices

ASX Trade

 

7:00 – 9:50 (pre-open)

9:50 – 17:00 (normal trading)

17:00 – 17:30 (pre-night trading)

17:30 – 18:50 (open night trading)

Options over shares

ASX Trade

 

7:00 – 10:00 (pre-open)

10:00 – 16:20 (normal trading)

16:20 – 17:00 (late trading)

ASX Futures (Agricultural Derivatives)

ASX Trade

 

8:00 – 11:00 (pre-open)

11:00 – 16:30 (normal trading)

16:30 - 17:00 (late trading)

ASX Futures & Options

ASX Trade24

See link for trading hours by product

 www.asx.com.au/resources/education/basics/trading_hours_asx_24.htm

ASX CFDs

 

ASX Trade24

See link for trading hours by product

http://www.asx.com.au/products/cfds/how/session_times.htm

 

 

 

Supervisory Body

The supervision of trading on Australia’s domestic licensed markets and the supervision of trading participants in conducted by the Australian Securities and Investments Commission (ASIC).

ASX Compliance is a wholly owned subsidiary of ASX which fulfils ASX's oversight obligations as a market operator and clearing and settlement facility operator.  ASX Compliance has responsibility for the oversight of listed entities under the ASX Listing Rules and for monitoring and enforcement of compliance with the operating rules by market, clearing and settlement participants.
 

Name of Clearing & Settlement Organization

ASX Clearing Corporation provides central counterparty facilities through its two subsidiaries:

 

  • ASX Clear Pty Limited for securities listed on the ASX Trade platform, including cash market securities (equities, pooled investment products and warrants) and predominantly equity-related derivatives (comprising exchange traded options and futures); and
  • ASX Clear (Futures) Pty Limited for futures and options in interest rate, equity, energy and commodity products that are traded on ASX Trade24.

Settlement Cycle

T + 3 (cash equities)

 

Name of Central Securities Depository

ASX Settlement Corporation’s wholly owned subsidiaries, ASX Settlement and ASX Austraclear provide a 'delivery versus payment' settlement service, secure asset holding services as well as a wide network that enables 'straight through processing'.

  • ASX Settlement provides the settlement system and a fully electronic securities depository for equity and equity-related securities.
  • Austraclear provides the settlement system and central securities depository (CSD) for the wholesale debt market

 

Commissions on Transactions levied by Exchange

Exchange fees for cash equities trading apply to the value traded.

 

Trade type

Fee

CLOB trade

0.15 basis points per trade per side, capped at $75

Off-market trade reporting

0.04 basis points per trade report per side, capped at $75, and capped at a total of $1,000 per participant per month.

Auction trade :

0.28 basis points per trade per side, capped at $75

Undisclosed trade :

0.50 basis points per trade per side

Centre Point trade :

0.50 basis points per trade per side (standard trade)

0.40 basis points per trade per side (preference trade)

0.30 basis points per trade per side (new user trade fee)

 

The full ASX fee schedule can be found at: http://www.asx.com.au/professionals/participants.htm
 

Taxes on Dividends, Interests

Australia’s taxation arrangements are administered by the Australian Taxation Office.

Australia operates a dividend imputation system for resident shareholders that provide a credit for tax paid at the corporate level, with dividends received taxed at the marginal income tax rate of the shareholder.

Capital gains tax applies to net realised gains and is generally taxed at the taxpayer’s marginal income tax rate (with a 50% discount where the asset has been held for more than 12 months). Non-resident taxpayers are usually exempt from paying Australian capital gains tax on portfolio investments.

Withholding tax rates are generally applied to non-resident investments at a rate of 10% for interest payments and 30% for dividends (dividends with imputation credits attached are exempt), unless an international treaty agreement reduces the rate.

2013 Share ownership thresholds (%)

There is a requirement for investors to file an initial substantial shareholding notice where they acquire a “relevant interest” in equity securities representing greater than 5 per cent of the voting rights of a public company.

Investors are also required to notify any subsequent changes (up or down) of 1% or more in their holding.

Short selling (Yes / No)

Yes

 

Short selling conditions (if any)

Covered short sales are permitted but naked short sales are generally prohibited. The arrangements governing short selling are contained in the Corporations Act (2001).

ASIC’s Regulatory Guide 196 “Short selling” provides more detail on regulatory arrangements and reporting obligations applying to short selling in Australia. The Guide can be found at

http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg196-short-selling-20110429-updated-ASX200-to-ASX300.pdf/$file/rg196-short-selling-20110429-updated-ASX200-to-ASX300.pdf

This page was last updated on: 07/10/2013 - 14:56