ASX Capital Requirements Back |
 In July, ASX announced (without prior consultation) that Core Liquid Capital for ACH Clearing Participants would be increased from $100,000 in two stages:
o Stage 1. 1 Jan 09: $100,000 to $2m
o Stage 2. 1 Jan 10: $2m to $10m
In order to meet the new requirements, some Members will need to either a. increase capital, or b. outsource to a third party clearer.
Earlier we had met with ASX, surveyed members and provided a written submission as to the effect of the changes on members.
In October, we again met ASX with a group of the affected members, where they made it clear that the changes will stand.
Affected members are now considering their position.
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