ASIC has renewed the instrument that exempts qualifying low-volume financial markets from holding an Australian market licence and raised the annual transaction-value ceiling from A$1.5 million to A$2.5 million.[1]
Dual eligibility test
| Test | Previous limit | Current limit |
|---|---|---|
| Completed transactions in 12 months | No more than 100 | No more than 100 |
| Aggregate transaction value | A$1.5 million | A$2.5 million |
| Instrument sunset | 1 October 2026 | 1 October 2031 |
Both activity tests must be met. A market with 101 small transactions fails even if its value is below A$2.5 million; a market with only a few transactions also fails if their aggregate value exceeds the ceiling.[1]
Eligibility and registration
An operator must apply to have its market named on ASIC’s register. The instrument removes the Part 7.2 market-licence requirement for the qualifying facility; it does not disapply every financial-services, product, disclosure or conduct obligation.
ASIC cited inflation and the fact that the value threshold had remained unchanged since 2016. The transaction-count limit was retained, keeping the exemption focused on facilities that are small in both frequency and aggregate value.[1][2]
The 12-month measurement period starts when the market is named on ASIC’s register and repeats in subsequent 12-month periods. Operators must monitor both completed transaction numbers and aggregate value to remain within the relief.[1]
Sources & further reading
- ASIC increases low-volume financial market transaction threshold Australian Securities and Investments Commission · 30 Sep 2026 · Accessed 30 Oct 2026
- CS 60 proposed remake of low-volume financial markets instrument Australian Securities and Investments Commission · 23 Jul 2026 · Accessed 22 Oct 2026