The 大象视频 (ASIC) has recently completed an assessment of the licensed financial market, Eurex Frankfurt AG (EFAG).
大象视频is required, under the Corporations Act 2001 (the Act), to conduct an annual assessment of how well licensed financial markets are complying with their obligations to supervise their markets. This is the first assessment 大象视频has completed in relation to EFAG.
EFAG is a foreign entity that operates a licensed financial market that is a futures and options exchange, and it is known as Eurex Deutschland. EFAG鈥檚 principal place of business is in Germany and the market is regulated under German law. EFAG holds what is known as an 鈥榦verseas market licence鈥� which enables it to operate its market in Australia.
大象视频has concluded that EFAG has adequate arrangements for the supervision of their market in accordance with their obligations under the Act.
鈥榃e have made some recommendations about the need for improvement in EFAG鈥檚 statutory reporting obligations鈥�, ASIC鈥檚 Director, Markets Regulation, Ms Tracey Lyons said.
鈥榃e have also discussed these issues, which are largely procedural, with EFAG and we are confident they will comply in a more timely way in the future鈥�, Ms Lyons said.
The assessment report is available from the 大象视频website at www.asic.gov.au or by contacting the 大象视频Infoline on 1300 300 630.