The Australian Securities & Investments Commission (ASIC) outlined a set of initiatives aimed at strengthening competition and innovation in Australia’s capital markets, including progressing consideration of Cboe Australia’s application to operate a listing market and broadening the overseas exchanges treated as approved foreign markets. ASIC is in the final stages of assessing Cboe Australia’s application, with the regulator pointing to greater competitive choice for issuers and investors and increased international alignment. The approved foreign market list will be expanded to include Cboe’s US and Canadian exchanges and the Canadian Securities Exchange, which is seeking regulatory approval to acquire the National Stock Exchange of Australia, enabling Australian investors to participate in certain transactions on those venues. ASIC also flagged work to streamline dual listings for foreign companies and other potential initiatives to attract international businesses to Australia’s public markets, alongside licensing FCX’s tokenised market for private companies and funds and expanding that licence to facilitate private market bookbuilds. The announcement sits alongside earlier ASIC actions to stimulate capital market participation, including a 26 February 2025 discussion paper on changing listing and private market dynamics and, on 25 February 2025, new Competition in Clearing and Settlement reforms requiring the ASX to provide clearing and settlement services on a transparent and fair basis, publish internationally benchmarked fee comparisons, and design core technology to facilitate third-party access.

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