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Regulators must step in to fix ASX clearing and settlement
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The time has arrived for regulators ASIC and APRA to the put the ASX’s feet to the fire.
Described by The Australian Financial Review as clowns, the ASX can add buffoonery to its collection of tricks, following the failure of the clearing and settlement on the Friday before Christmas (“ASX scrambles to fix CHESS settlements outage as traders fume”). Nothing to see here, said the ASX to its clearing members. It will be fixed “shortly”.
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