ASX has introduced a new Pricing Policy for its cash equity clearing, settlement and issuer services, effective 1 July 2025, which implements revenue capping, provides greater transparency to customers and introduces additional processes for ensuring compliance with ASX’s regulatory obligations including the ASIC CS Services Rules 2025. The pricing policy is available here.

A key element of the Pricing Policy is a new pricing methodology that is widely used in other essential infrastructure industries, that caps the revenue that ASX can receive for cash equities clearing, settlement and issuer services to the amount required to efficiently deliver those services, plus a reasonable rate of return.

The introduction of the new Pricing Policy follows extensive consultation with stakeholders. As outlined in the Pricing Policy Consultation Paper: Response to Feedback, the revenue sharing scheme for cash market clearing and settlement participants will be replaced with the pricing policy. The revenue sharing scheme will therefore be removed effective 1 July 2025.

If applicable, any revenue sharing scheme payments for the financial year 2025 would still be made and will be distributed to participants proportionate to each individual customer’s revenue contribution. The details of the revenue sharing scheme are featured in this market notice. 

The Clearing and Settlement Schedule of Fees has been published in the form attached with an effective date of 1 July 2025. This version:

• includes the removal of the revenue sharing scheme,
• includes the removal of services that are inactive or no longer used,
• includes a reference to the Trade Acceptance Service- annual service fee payable for four AMOs (updated from three AMOs),
• has updated descriptions on charge basis for some fees,
• reflects active fees only,
• does not amend any other fee amounts.

The schedules of fees are available from the following web pages.

https://asxonline.com/public/documents/asx-schedule-of-fees.html

https://www.asx.com.au/content/asx/home/markets/market-resources/asx-schedule-of-fees.html

What do I need to do by when?

Note the change and no other action required.

Need more information?

Should you have additional queries, please contact us below for further information.

Issued by

Equity Post Trade

Contact information

Fraser Moodie
Senior Manager, Equities

equityposttrade@asx.com.au

Disclaimer