Any firm seeking to break into the business of clearing of securities and derivatives will more easily be able to seek an exchange settlement account with the Reserve Bank of Australia under new guidelines released yesterday.
The policy will, in practice, foster the expected entry of LCH Clearnet into the Australian market.
The Australian Financial Review reported last week that LCH Clearnet recently lodged applications with regulators to enter the local market.
The RBA said it had developed a specific category under its policy on eligibility for exchange settlement...
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