re: broker codes ?asx website Equity Market Reforms - Broker...

re: broker codes ?asx website
Equity Market Reforms - Broker Identification
ASX reviews on a continuous basis the efficiency and effectiveness of its equity market structure and design. As part of this process ASX previously announced the removal of broker codes (Broker Ids) from the trading system and all market data information feeds.

This change is planned for mid-November. Brokers will still be able to see their own references but all counterparty orders and trades will appear as broker number 777. There will be no late trading once Broker ID's are removed. The Closing Single Price Auction (CSPA) will also be delayed until 4:15pm (AEST) at which time the market will be placed in 'after hours adjust'.

Market share data published by ASX will be available on an aggregated basis (i.e. ASX will not flag Buys or Sells only totals) at 5:00pm on the same trading day. Full trade history will not be available until 7:00am on T+3.

Equity Market Structural Reforms
Media centre
ASX Speeches and Presentations
Equitiy Market Structural Reforms
New listings
ASX reviews on a continuous basis the efficiency and effectiveness of its equity market structure and design. As part of this process ASX released a Market Consultation Paper – 'ASX Market Reforms - Enhancing the Liquidity of the Australian Equity Market' (PDF 433KB). The consultation paper outline proposals to change certain aspects of the microstructure of ASX's equity market.



Following extensive consultation ASX has made a number of decisions regarding the structure of the equities market. These changes are separate to the introduction of the CLICK XT™ for all markets although some of the changes will occur with the change to the new system.

The key decisions are:


Removal of broker numbers for the equity market (planned for December quarter 2005).
Change in the minimum price step for stocks priced between $0.50 and $2.00 from 1 cent to 0.5 cents (first quarter 2005).
Replacing the Undisclosed order type with an Iceberg order type (with the move to CLICK XT planned for March quarter 2006).
A trial of call auctions and market making for some mid and small cap stocks (further consultation to be conducted).
An increase in the minimum block special size for some stocks.

Full details of the decisions are detailed in 'Enhancing the Liquidity of the Australian Equity Market – Decisions on reforms' (PDF 206KB).