The Australian Securities & Investments Commission has used its new financial market infrastructure powers to declare that Euroclear Bank SA/NV has a material connection to Australia through its Australian activities, bringing the international settlement provider into Australia’s clearing and settlement facility licensing regime. ASIC expects Euroclear to lodge a clearing and settlement facility licence application within 12 months, by 26 May 2027, and has granted a temporary exemption to avoid disruption to market participants while the application is progressed. The decision follows ASIC’s assessment of Euroclear’s Australian operations and consultation with the Reserve Bank of Australia. The expanded powers were introduced under the financial market infrastructure reforms passed in September 2024. Euroclear is a key participant in Australia’s debt securities market and provides cross-border settlement and custody services, including for Australian Government bonds. Licensed clearing and settlement facilities are jointly overseen by ASIC and the Reserve Bank of Australia, which have separate but complementary licensing and supervisory roles.
Australian Securities & Investments Commission2026-05-27
Australian Securities & Investments Commission requires Euroclear to seek an Australian clearing and settlement licence within 12 months after material connection finding
The Australian Securities & Investments Commission has used new financial market infrastructure powers to declare Euroclear Bank SA/NV has a material connection to Australia, bringing it within the domestic clearing and settlement facility licensing regime and granting a temporary exemption while it prepares a licence application. The decision follows ASIC’s assessment and consultation with the Reserve Bank of Australia, reflecting Euroclear’s role in Australia’s debt securities market and in providing cross-border settlement and custody services, including for Australian Government bonds.