Legal and compliance

Licencing

Under Australian law, a person requires an Australian market licence if they operate a financial market in Australia that has not been exempted from the operation of Part 7.2 of the Corporations Act.

Yieldbroker holds an Australian Markets Licence which commenced on 11 March 2004 (varied 8 February 2010). The Licence authorises Yieldbroker to operate the following financial markets:

  • Dealer & Client market
  • Interdealer market

The licence also specifies the classes of financial products that can be dealt with on the markets.

As a market licensee, Yieldbroker has a number of general obligations set out under s792A of the Corporations Act. On an annual basis, Yieldbroker is required to report to ASIC on the extent to which it has complied with those obligations (s792F). In addition, ASIC assess Yieldbroker annually and reports to the Minister on how well Yieldbroker has complied with its licensee obligations (s794C). The results of this assessment are published on the ASIC website.

Operating Rules

As the holder of an Australian Markets Licence, Yieldbroker is required to have Operating Rules (s793A) that deal with the activities or conduct of the market or the activities or conduct of participants in relation to the market. In particular, the Operating Rules must ensure that the market is fair, orderly and transparent. The Operating Rules have effect as a contract under seal between Yieldbroker and each participant in the market and between a participant and each other participant in the market. If you are interested in becoming a participant in our market and would like to request a copy of our Operating Rules, please contact our Sales team on +61 2 9994 2890.

Participation Agreement

In order to participate in either the Dealer & Client market or Interdealer market operated by Yieldbroker, participants are required to sign a Participation Deed with Yieldbroker. The Participation Deed, along with the Operating Rules, governs access and use of the Yieldbroker system and markets. Please contact our Sales team on +61 2 9994 2890 if you are interested in becoming a participant on our platform.

Technical Access Agreement

The Technical Access Agreement (“TAA”) is the standard agreement between Yieldbroker and any party who does not act as a participant in Yieldbroker’s markets but is nonetheless applying to establish a relationship with Yieldbroker for purposes such as developing system interfaces for participants or providing/operating order/trade management systems etc. The TAA governs ISV access to Yieldbroker’s FIX interface and provides access to Yieldbroker’s documentation, test system etc. Please contact our Sales team on +61 2 9994 2890 if you are interested in establishing a relationship with Yieldbroker.