RBA Slams ASX Clearing Facilities Over Governance and Risk Lapses
The Reserve Bank of Australia (RBA) has expressed dissatisfaction with the Australian Securities Exchange's (ASX) clearing and settlement facilities. In its 2026 assessment, the RBA found that one or more facilities only 'partly observed' requirements on governance, comprehensive risk management, credit risk, and operational risk.
The ASX's new 'Transformation Portfolio' aims to address gaps in capability, culture, and oversight, but the RBA has set expectations for what 'good' needs to look like. The exchange faced multiple operational disruptions in 2022, leading regulators to focus on technology resilience and stronger controls.
As a result of the RBA's verdict, the cost of trading on ASX may increase due to stricter risk settings and higher compliance spending. This could lead to higher collateral or margin requirements for clearing participants like brokers and market makers.