For trading platforms it is proposed that no decision be taken on any mandatory requirements until subsequent reviews by the regulators.
The regulators did not make a recommendation regarding a mandatory platform trading obligations in the Report. The regulators will continue to monitor developments in other jurisdictions and seek more detailed information on activity in the Australian market, to more clearly define the characteristics of suitable trading platforms.
The Government is reviewing the licensing arrangements for financial markets. This review will consider whether the framework is adequate to deal with the derivatives trading platforms that would be suitable for mandatory trade execution. As part of this review, the Government is considering the impact of potential foreign registration requirements for Australian markets.
What do you view as the characteristics that make a trading platform suitable for mandatory trading of derivatives?