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By Byron Kaye
SYDNEY (Reuters) - A top Australian share trading technology firm backed a government proposal to break stock market operator ASX Ltd's effective monopoly over clearing and settlement, saying its failed software overhaul showed the need for new entrants.
In draft legislation published this week, the federal government said it wants to give potential rivals to the ASX's clearing and settlement operations the same access to financial market infrastructure.
The new rules would also...
>>> Read more: Australia market major backs plan to break ASX monopoly on post-trade functions
SYDNEY (Reuters) - A top Australian share trading technology firm backed a government proposal to break stock market operator ASX Ltd's effective monopoly over clearing and settlement, saying its failed software overhaul showed the need for new entrants.
In draft legislation published this week, the federal government said it wants to give potential rivals to the ASX's clearing and settlement operations the same access to financial market infrastructure.
The new rules would also...
>>> Read more: Australia market major backs plan to break ASX monopoly on post-trade functions
