Flykk Money, page-668

the point of business is to make money. the point of Clearpay is, i hope, to make money.

the simplest form of clearing and settlement, as it is today, is where the Clearing and Settlement process ends as Net Zero for a participant.
this involves little ASX involvement (but they do make coin and do stuff) and is not what Clearpay is, i suspect, interested in. i try to understand the simple scenarios so that i can understand the more complex scenarios where there is real "skimming" money to be made......

so what is the simplest example of a net zero transaction? and how is ASX involved in a net zero transaction?

simplified for expediency:
Say a trade executes for $1000 on CBOE.... therefore it never even made it into the ASX trade platform known as Tradematch.

The seller was a commsec client, with HIN shares in commsec, the authority to sell and an approved attached bank account to put the sale funds into. the seller paid $10 brokerage.
The buyer was also a commsec client. they had an approved HIN account to put the shares into and an approved bank account that already contains the funds to do the buy. the buyer paid $10 brokerage.

commsec use a CS Participant that comes from within the corporate group (PID1402) to clear and settle..... so that participant notes that all the required checks on ownership and money etc are good and then does the clearing and settlement process on behalf of asx.... think of it as the money from one commonwealth bank account transfers to another commonwealth bank account, and a certain number of shares move from one commsec account to another commsec account (asx did none of that process in a tangible way.... comm did it all)

so CBOE did the trade, Commonwealth Bank did the $1000 money transfer with no money having left the bank, and no shares have been removed from CommSec as a broker - just moved from one account to another account inside CommSec.

that is a Net Zero Clearing and Settlement....... but but but ASX still got some coin out of that, and then had to do some paperwork stuff, but basically did nothing for that clearing and settlement...... that process is not why Clearpay was established IMO..... and not where ASX makes the pot of gold that is being targeted.... but to understand the pot of gold u have to understand what the CS Participant does in a simple scenario...... and why Finclear and CBOE et al are angry and want changes..... and why asx are called a monopoly.

happy bathurst day.