CS 60 Proposed remake of low-volume financial markets instrument

ASIC released Consultation CS 60 on 23 July 2026, seeking feedback on remaking ASIC Corporations (Low Volume Financial Markets) Instrument 2016/888, which was due to sunset on 1 October 2026. The instrument exempts low-volume financial markets, defined as markets with no more than 100 completed transactions and total transaction value not exceeding 1.5 million dollars in any 12-month period, from the requirement under Part 7.2 of the Corporations Act 2001 to hold an Australian market licence. ASIC assessed the instrument as continuing to operate effectively and proposed to increase the transaction value threshold from 1.5 million dollars to 2.5 million dollars to account for inflation since the threshold was last set in 2016. Comments closed on 20 August 2026.

ASIC subsequently published its response to the three submissions received, all of which supported continuation of the relief in principle, though two raised concerns about the appropriate eligibility thresholds. ASIC finalised the position and made ASIC Corporations (Low Volume Financial Markets) Instrument 2026/756, which increases the transaction threshold by 1 million dollars as proposed, with the outcome published on 30 September 2026.

Operators of platforms that facilitate a small number of transactions, such as certain private trading or matching arrangements, should assess whether their current transaction volumes and values fall within the revised 2.5 million dollar threshold. Platforms with activity levels close to or exceeding the new threshold should confirm whether they now require an Australian market licence or another applicable exemption.