Trade Acceptance Service Go Live
Sydney, Oct 26, 2020 AEST (ABN Newswire) - National Stock Exchange of Australia (
ASX:NSX) is pleased to advise that the Trade Acceptance Service (TAS) is scheduled to go live on Monday 23rd November 2020 subject to a statutory 28 days disallowance period of the relevant rules of the service provider (ASX Clear).
Following the go-live of TAS, NSX participants and entities seeking admission as an NSX Participant trading CHESS approved securities must have an adequate clearing arrangement in place. This can be achieved by being admitted as a clearing participant of ASX Clear or engaging another participant who is eligible in providing third party clearing services. Participants using third party clearing services must notify NSX by providing a copy of any clearing agreement between the Participant and the clearing service provider. Participants who are unable to have an adequate clearing arrangement in time will have their trading access to NETS suspended.
As previously advised, TAS will allow market transactions executed through NSX to be eligible for registration and novation in accordance with the operating rules of ASX Clear with effect from the time of trade execution (that is immediately after matching of bids and offers on the trading platform).
TAS represents a significant enhancement to the NSX Market. It brings post-trade automation to the back office by adopting current market practice through CHESS. This enables participants to reduce operational overhead by automating the settlement messaging process for eligible NSX securities.
These benefits all contribute to further enhancing the liquidity in secondary trading of the shares in companies listed on NSX.
About NSX Limited
NSX Limited (ASX:NSX) 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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