International clearing and settlement providers wanting to move into the local market and compete with the Australian Securities Exchange will have to open an account with the Reserve Bank of Australia. The RBA said the requirement to have an “exchange settlement account" would apply to any area deemed “systemically important". These accounts allow settlement of trades to take place using RBA funds, providing better protection for investors. International group LCH Clearnet is pushing for a licence to move into Australia.George Liondis

Mid-cap explorers AWE and Norwest Energy have reported an initial gas flow from their unconventional gas testing in the onshore Perth Basin, raising early hopes the venture will be commercial. AWE said it was too early to draw any conclusions from the results. AWE reported full-year sales of $298 million, at the upper end of guidance. Angela Macdonald-Smith