So we agree, everything you are talking about is outside the...

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ZMan

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07/10/23

21:52

Post #: 70228099
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Originally posted by 1stPrize: ↑

Finclear is offering an alternative to services provided by brokers, not an alternative to the clearing and settlement services provided by ASX.

i am no expert. but Finclear provides the services TO the brokers when talking about ASX trades. that is to say a broker such as STAKE uses Finclear to do the back end stuff for them, as does the broker Thinkmarkets and others.... Finclear do the interaction with ASX and the ASX services that go along with a trade. NABTRADE uses Wealthhub to do that same stuff for comparison. The clearing and settlement participants are just that.... participants. ASX runs the show (by law) and therefore everything funnels back through ASX. that is because of CHESS (HIN is the other way to think of CHESS).

where the law says that Finclear can do all the "trades" and "paperwork" and "money exchanging" for financial stuff (not ASX trades) then they can do that....... so rather than be a participant in the clearing and settlement process they are the principal in that (they own the process).

but that may help in the discussion.

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So we agree, everything you are talking about is outside the scope of ASX clearing/settlement and clearpay.

Thus all your vague and misleading posts are unrelated to ISX and off topic to any thread about ISX.

Thanks for your contribution… (not)

SP1 Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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