Apply to become a participant

ASX offers a range of participant membership categories that span our trading, clearing and settlement facilities

The value of joining ASX

PARTNERSHIP

Partner with one of Australia’s most widely recognised and iconic brands.
Be part of a select group of financial service providers.
Participate in exclusive marketing

ACCESS

Electronic access to the Australian equity and derivative markets.

CONFIDENCE

Clients of ASX participants can make certain claims on the National Guarantee Fund and Fidelity Funds.
Participants follow established operating rules, creating certainty for your business

Information and guidelines

Important information for Listed Entities, Participants and AQUA Products (mFund and Traded Market)

Compliance and enforcement

ASX Participants Compliance is responsible for monitoring and enforcing compliance within the operating rules of ASX markets and facilities.

ASX trading – types of participation

You can apply to become a trading participant on either our cash market (ASX Trade), our derivatives market (ASX 24) or both. You can also apply to become a principal trader on ASX 24.

Trading participant

Provide execution services for your organisation and for your clients.
Access the market via a direct connection to ASX trading platforms.
Trading participants must either self-clear transactions (as an ASX Clear participant) or enter into an agreement with a third party clearing provider to clear transactions on their behalf.

Principal trader (ASX 24 only)

Transact on your own firm account, without providing an execution service to others.
Access the ASX 24 derivatives market via a direct connection to ASX’s NTP trading platform.
Principal traders must either self-clear (as an ASX Clear (Futures) participant) or enter into an agreement with a third party clearing provider to clear transactions on their behalf.

ASX Clearing - types of participation

Clearing participants clear equities and exchange-traded options (ETOs) through ASX Clear, or derivatives through ASX Clear (Futures).

General participant (ASX Clear)

Enables you to clear transactions or derivative contracts for:
- your firm and your clients,
- market participants and their clients, and
- other participants and their clients.
General participant admission only entitles a participant to clear transactions for a third party provided they have entered into a Clearing Agreement.
General participants must also adhere to ASX capital requirements. Refer to section 1.6.1 of the Capital Requirements Guidance document.

Direct participant (ASX Clear)

Enables you to clear transactions and derivative contracts for your firm and your clients’ accounts, but not anyone else.
You must also be a general participant of ASX Settlement.
Direct participants must also adhere to ASX capital requirements. Refer to section 1.6.1 of the Capital Requirements Guidance document.

Enables you to:
- clear futures and options for your firm and your clients’ accounts, and
- provide clearing services to non-clearing ASX 24 participants and principal traders.
Requires a Clearing Guarantee for each non-clearing ASX 24 participant and principal trader for whom you clear.
You must meet certain ASX capital requirements. Refer to section 1.6.2 of the Capital Requirements Guidance document.

ASX Settlement - types of participation

Settlement Participants facilitate the settlement of cash equities through ASX Settlement or fixed-income securities through Austraclear. Clearing and Settlement Participants must have either an Austraclear account or an outsourcing arrangement with an Austraclear Participant to settle margin calls and calls for Contributions and Additional Cover (CAC).

Preparing to become a participant

Step 1

Review the admission requirements and contact ASX to discuss your application.

One form is used for:

ASX Trade
ASX 24
ASX Clear
ASX Clear (Futures)
ASX Settlement.

Applicants that are required to hold an Australian Financial Services Licence (AFSL) should contact ASIC as early as possible in the application process. ASX timeframes do not include the time taken to satisfy any ASIC or foreign regulator requirements.