The Australian Securities and Investments Commission (ob体育) has reported on its assessment of the markets operated by (BTA).
ob体育 has made recommendations to improve BTA鈥檚 arrangements for governance, supervision and enforcement, and systems and controls. More information is available in Report 634 Market assessment report: Bloomberg Tradebook Australia Pty Ltd (REP 634).
As part of its terminal offering, Bloomberg provides access through BTA to five electronic markets that offer trading in bonds and debentures, derivatives and spot foreign exchange. Our recommendations are intended to see that BTA strengthens its arrangements so as to meet increasing regulatory and investor expectations of operators of wholesale markets.
Other specialised market operators regulated by ob体育 are encouraged to review these findings and recommendations to determine what is applicable to their market operation.
ob体育 Commissioner Cathie Armour said, 鈥極ur assessment of BTA is designed to promote the integrity of fixed income, currency and commodities (FICC) markets, and to make sure the trading infrastructure that supports these markets is well run and operationally robust. This is essential to ensure confidence in these markets by investors and consumers.鈥�
Background
Section 794C of the Corporations Act empowers ob体育 to assess how a market licensee is complying with its obligations.
In conducting our assessments, ob体育 may assess how well a market licensee is complying with its obligations under s792A(c), and we may also include other Chapter 7 obligations.
ob体育 uses the licensees鈥� self-assessment reports, our observation of the licensees鈥� performance (including reviews of trading records), and market intelligence obtained during our visits to the licensees鈥� offices and other sources to establish how the licensee has operated its market during the assessment period.