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The Treasurer is a regulator of the ASX so good idea gregbris to...

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    The Treasurer is a regulator of the ASX so good idea gregbris to contact Treasury directly.  The Treasury or Frydenberg don't have a fax number [actually states N/A for fax no. next to the telephone number you provided].

    What a shame the lack of fax number otherwise we would be able to ensure someone in the department at least viewed the headers/and or some of the content of ACTUAL PRINTED submissions plus also any senders would know their information had been physically received in a FULLY PRINTED FORMAT...unlike sending online website enquiries and emails which are easier to ignore and rarely if ever are printed as evidence.  Faxed information does provide greater proof that the recipient received the full physical text of the information.  In saying that, faxes like emails can be ignored by the recipient and not read and not responded to.  Not saying faxing is the way to proceed but interestingly enough today when viewing avenues to contact Treasury - fax was mentioned in the privacy act as being more secure than emails?  Yet no fax number provided for Treasury.

    A related, yet separate issue:

    Look a this excerpt below if you can read through it without being OVERWHELMED  by the (1) lack of real and evidenced practice by ASX; and (2) the irony and absurdity of making this claim given ASX's actions against ISX to date Feb 2020 and (3) how does it address perceived COIs given other events and other publications re ASX's blockchain revenue and monopolistic moat lasting another 3 years ETC ETC ETC and also [4] how does it address the sense of injustice and perceived hypocrisy given HIOM's statement below to the Senate Enquiry on February 2020.

    Senate Enquiry freely available open access link and information from APH - ASX's first appearance 20 Feb 2020 -

    Full link here: ASX - HIOM, Mr Peter, Deputy Chief Executive Officer, ASX

    Select Committee on Financial Technology and Regulatory Technology
    20/02/2020


    Opening address:
    CHAIR ( Senator Bragg ): Good morning. I declare open this third public hearing of the Senate Select Committee on Financial Technology and Regulatory Technology. This is a public hearing and a Hansard transcript of the proceedings is being made. We are also streaming audio of the hearing live via the web, which can be found at www.aph.gov.au.


    Excerpt below:  ASX

    Mr Hiom : Good morning. ASX welcomes the opportunity to make a submission to the inquiry. Thank you, and we're pleased to be here this morning. ASX has a strong history of technology innovation. This includes embracing electronic trading, digitising share certificates and our current major initiative of rebuilding the CHESS clearing and settlement system using distributed ledger technology—often referred to as blockchain.
    In addition to operating Australia's fully electronic securities exchange, ASX also operates a world-class data centre and communications network that connects market participants to ASX and to each other. Through the operation of our exchange, we have been privileged to partner with some of the smartest and most advanced technology companies in the world to help deliver innovation in Australia's financial markets.
    ASX is not a fintech company in the sense that the term is often used—that being a small business using technology to challenge accepted practices in the pursuit of a better way of doing things. However, we do feel that ASX is well placed to understand many of the issues facing fintechs because we too are pursuing, as we always have, better ways of doing things.
    Over many years, technology and innovation have been central to our evolution and to the evolution of Australia's financial markets. We work with and invest in fintechs to provide better outcomes for Australian listed companies, investors and those that serve them in the marketplace.
    More broadly, we see a significant opportunity for Australia to develop world-leading technology capabilities to support job creation and economic growth, and we would like to share some practical suggestions for government to continue to support fintech and regtech.


    For the purposes of our opening comments I will refer to these collectively as fintech.

    Firstly, technological innovation will often challenge the status quo and not everyone will see this as beneficial to their business in the short term. Fintechs are typically agile and able to be creative, being unencumbered by existing business practices. Larger established organisations, including those like ASX, must work hard to ensure that they remain open to innovation and do not confine their thinking to the way things are done today.
    Government plays an important role in guiding and encouraging businesses, both large and small, to invest in a long-term strategy of innovation that will benefit their stakeholders and the nation. We are very supportive of the government's National Blockchain Roadmap, which identifies the opportunities for blockchain, describes the potential sequence of future developments and outlines how the public and private sector can work together. Organisations, such as Data61, Everledger and ASX, are at the forefront of this technology, and Australia has an exciting opportunity to develop world-leading blockchain capabilities and unlock economic transformation.
    Secondly, we believe governments should continue to look for opportunities to solve its own technology challenges by engaging with fintechs. Wherever a manual or inefficient process exists, or an improvement to a service seems unachievable, therein lies an opportunity to collaborate with fintech. Fintechs are skilled at building software quickly and cheaply, which allows for rapid deployment and validation. There are many ways that government can help, including making procurement processes more accessible, making projects bite-sized and embracing creative solutions.
    Finally, we believe that an opportunity exists for government to help Australians acquire the technology skills and capabilities that are increasingly in demand. In the last two years, for example, ASX has hired almost 200 new and highly skilled people, the bulk of them to work on our various technology initiatives, including the work we're doing with distributed ledger technology. Our experience is that these resources are in high demand, and as a consequence fintechs may find it difficult to attract and retain the right people. As an illustration of the opportunity for job creation, a recent Australian Computer Society report cited that there are 14 jobs available for a every qualified blockchain developer. Australia needs more software developers, architects and business analysts skilled not only in blockchain but also in AR, AI, robotics and cloud computing. Government can help by providing fintechs with funding for education and training to develop their workforce and to grow the technology skill base of Australia.
    There is an exciting opportunity for fintechs to help drive economic transformation in Australia. Understanding the challenges they face, the opportunities that they present and having a pragmatic plan of action will help unlock this potential. We are very supportive of the goals of this inquiry and thank you again for the invitation to appear and speak today. More details on our thoughts and suggestions can be found in our submission, and that concludes our opening comments. Thank you very much.
    Last edited by Dineen: 14/09/20
 
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