Electronic derivatives trading service OTCX will expand its derivatives trading services for Australian markets after being granted a market licence exemption.
The company announced yesterday that it would broaden its service offering to include both OTC equity and interest rate derivatives.
The licence exemption, which was granted by ASIC in October 2016, “enables regulatory monitoring of the OTCX platform” and requires the company to make regular reports to the corporate regulator.
OTCX Asia-Pacific managing director Dan Birch said working with ASIC had been “hugely positive” for the company.
“The expertise, direction and responsiveness of the team in the Innovation Hub was very helpful as we looked to establish a permanent position in the Australian market,” he said.
“We look forward to continue our growth and work closely with ASIC in the future.”