NSX meets its obligations under the Corporations Act 2001 (Cth) to have adequate arrangements for monitoring and enforcing compliance with its Listing rules and business rules by performing the functions below.

  • Monitoring and Surveillance Activities
  • Request for further information
  • Enforcement action
  • ASIC Referrals
  • NSX Rules and Practice Notes Governance

Monitoring and Surveillance Activities

NSX performs real time Monitoring of the trading activity on the market.

All market announcements are monitored to ensure that continuous disclosure requirements are met and companies are contacted if any issues are identified.

NSX monitors whether listed entities meet their periodic reporting requirements relating to half yearly and annual reports.

NSX Surveillance team works closely with ASIC Surveillance team to monitor trading and disclosure issues.

Request for Further Information

In accordance with the NSX Practice Note for Continuous Disclosure where there is potentially unusual market activity, NSX can request further information from the issuer and participants in the form of:

  • Price Query
  • Awareness Letter
  • Continuous Disclosure Letter

Sample letters and continuous disclosure practice can be found in Practice Note # 6. Periodic disclosure requirements can be found in Practice Note #9.

Enforcement Action

If NSX resolves that a listed entity has breached the listing rules, NSX can take enforcement action and require the entity to take corrective action.

NSX as part of the enforcement action may place securities in trading halt or suspend from official quotation. NSX can also censure the Issuer,

In an event of a disclosure requirement breach, NSX can require the entity to take corrective action by way of a corrective announcement.

ASIC Referrals

The NSX works closely with ASIC for policing compliance with the Corporations Act and Market Integrity Rules.

NSX is obligated under the Corporations Act to notify ASIC of significant matters relating to

  • Unusual or suspicious Market Activity including price queries.
  • Breaches of Market Integrity Rules or NSX Listing and Business Rules
  • Disciplinary action against an Issuer or market participant for breaches of NSX’s Rules.

NSX assists ASIC with any data requests.

NSX Rules and Practice Notes Governance

NSX governs and administers the marketplace through various rules and practice notes.

NSX Business Rules in conjunction with Market Integrity rules govern the market participants and Responsible officers.

NSX Practise Notes act as a guide to NSX practice and operation of the rules and provide further guidance on the NSX Listing and Business Rules.

NSX monitors participant compliance by continuous monitoring and conducting Annual Broker Assessments.

Nominated adviser framework is relied upon by NSX in ensuring that the issuers have professional direction and guidance on their responsibilities of being a listed entity on NSX.